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Media baron Subhash Chandra of ZEE TV had to fall back on the last resort of selling Essel Group promoter stake in November 2019 to save his jewel in the crown, Zee Entertainment Enterprises Limited from sinking under the debt burden of `11,000 crore. His fight back, though commendable, holds a cautionary tale for India Inc and promoters with overreaching ambitions who expended too fast, piggy backing on easy capital when the going was good. But when the economic slowdown triggered by the ill-fated demonetisation decision and dodgy financial practices came back to haunt the non-banking financial sector, trouble came storming at the doorsteps of these promoters

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