“There is no dearth of interest in the stressed assets. But the challenge is a lot of these assets are in sectors that are already suffering – steel, textile, power, etc. When the steel sector is overall not performing well, where will you get an attractive offer from? The potential investors will only want to buy a distressed asset if they believe they are getting a deal at a good value. But for the banks, the market determined rate is a very tough thing to accept. The challenge is that there is a disconnect between market valuations and expectations,” said Reshmi Khurana, MD and Head of South Asia, Kroll.
It was California’s Sierra Nevada and Yosemite that truly claimed him. In 1868, he walked across the San Joaquin Valley through waist-high wildflowers and into the high country for the first time. Later he would write: “Then it seemed to me the Sierra should be called not the Nevada, or Snowy Range, but the Range of Light…the most divinely beautiful of all the mountain chains I have ever seen.” He herded sheep through that first summer and made his home in a small cabin along Yosemite Creek, designing it so that a section of the stream flowed through a corner of the room so he could enjoy the sound of running water. He lived in the cabin for two years.