YES Bank Ltd’s latest $2 billion rescue plan was perfect except for one minor detail: Most suitors for the beleaguered Indian lender aren’t the kind the board can really take to meet the regulator for tea. Yet in a five-hour meeting Tuesday, the directors decided to do exactly that. Jane Austen would have been proud of their desperation to marry off YES.
Take Erwin Singh Braich, a mysterious Canadian tycoon offering to post three-fifths of the money together with a partner. Braich says he’s Canada’s richest man, but he “has no headquarters, no banker to manage his money, and is currently