Bombay Rayon: SBI's Questionable Rescue Needs a Probe

Why did India's biggest public sector bank keep giving the Prashant Agarwal family another chance? A Rs 4,000-crore CDR. A Rs 934-crore debt-for-shares swap. Then a Rs 5,600-crore S4A, with Rs 2,249.74 crore declared "unsustainable" and converted into shares and debentures.Five years later, insolve…