Reborn as the richest man in India.

Chapter 523: Denial of Triple Mortgage

At that time, the value of domestic mortgage assets for a US$10 billion loan was nearly 1000 billion rupees. However, the National Bank repaid US$8 million this time, so the confiscated assets were about 800 billion rupees.

Logically speaking, Reliance Group has to bear 800% of the 20 billion rupees, which is about 160 billion rupees.

Credible Group does not approve of this plan. They are only willing to bear US$1.6 million. According to the current exchange rate of about 1 rupees per US dollar, that is to say, they are only willing to give more than 32 billion rupees to the Tata Group.

How could the Tata Group agree? This is a shortfall of 100 billion rupees.

The answer given by Reliance Group is simple, repay the amount owed in dollars converted into rupees, that’s all.

But when mortgaging assets at that time, the Tata Group calculated the amount in rupees three times US$10 billion.

Since the Tata Group came forward to seek government guarantees, the assets mortgaged to the National Bank at that time were all in the name of the Tata Group.

It can be said that the contract signed by the two parties at that time was in the honeymoon period, and some aspects were ignored and there were loopholes.

That is, it was agreed that the ratio of the two companies to US$10 billion was eight to two, and the contract was also priced in US dollars.

The mortgaged assets here are all provided by the Tata Group, because the Reliance Group does not have the qualifications to provide internal guarantees and external guarantees.

Therefore, the supplementary contract agreement between Tata Group and Reliance Group stipulates that Reliance Group will account for US$2 million.

At that time, the two companies were very optimistic about overseas investment, and the National Bank was willing to guarantee it. They were very happy.

So some things are not so carefully considered.

This is the first time that this kind of domestic guarantee and offshore loan has been implemented in practice. Everyone has little experience, so it is not surprising that there are some flaws in the contract details.

If this investment in Mexico went very smoothly and they made money, then there would be no problem with this contract.

Because they have made money, after the US$10 billion matures, they can directly pay off the loan with US dollars, and naturally there will be no confiscation of domestic mortgage assets.

Reliance Group seized on this and admitted that he was responsible for a loss of US$1.6 million after denying the amount of the triple mortgage.

In other words, Reliance Group will find ways to raise US$1.6 million to make up for US$2 million.

With the power of Reliance Group, if it really has to pay some price, it can still get US$1.6 million.

And this price is still less than 150 billion.

The Tata Group is different. It needs to make up US$6.4 million, which is too large.

The Tata Group simply cannot obtain so many U.S. dollars at one time, so it is certain that he will default.

In the past, when the Mexican stock market was booming, the two families were as close as one family. But now they are in trouble, and they go separate ways when disaster strikes.

Reliance can save Rs 100 crore, so who is willing to spend more?

Of course, Reliance Group will definitely have to pay several billion rupees more to raise US dollars, but saving 7 to 8 billion rupees should not be a big problem.

Naturally, the Tata Group does not want to bear this loss itself. Wouldn’t that mean it would be taken advantage of?

So the two families were at war with each other and completely turned against each other.

Originally, this matter had nothing to do with Qiao Ge.

But after Qiao Ge got the news from Hudi in the country, he was a little bit dumbfounded.

This is an innocent trick.

Hudi said that Manmohan had received news that the $3 million in government support he had promised might not be available immediately, but he was working on it.

The specific thing is this, of course it has something to do with the Tata Group and Reliance Group.

It's not that the two of them are causing trouble.

Instead, the fight between the two companies exposed countless inside stories. For example, the Tata Group asked the state for domestic guarantees for overseas loans, and the national bank guaranteed a billion US dollars.

In the end, the two investments failed, and the country had to repay US$8 million to foreign banks on their behalf.

Although the National Bank will also confiscate the Tata Group's domestic mortgage assets, in the eyes of many people, it is unforgivable for the country to lose US$8 million.

Even if the Tata Group had assets pledged domestically, it would not be able to make up for its foreign exchange losses.

Foreign exchange is so important. You still remember that the country’s foreign exchange almost ran out a few years ago. How can foreign exchange be wasted?

With the support and instigation of various opposition parties, many people held demonstrations and the like in response to this matter.

So there is another political turmoil in the country. At this critical and sensitive moment, the Rao government did not dare to provide foreign exchange support to Chogo. He was afraid that the opposition would make trouble about this matter again. In this case, the pressure on the government would be even greater.

That's why Manmohan said that the previously promised US$3 million could not be fulfilled immediately.

Djogo could understand the government's thinking.

Although the target of my overseas investment this time is different from those two, it is the acquisition of an industrial company such as a steel company, but those people were aroused and would not think so much.

Besides, these people are not that smart, and many of them just get some head fees to join in the fun.

They are just some pawns of the opposition.

If domestic funds are not available for the time being, Qiao Ge will have no choice but to ask Rohatin to borrow some privately.

After all, he is in the beautiful country now, which is quite convenient.

Therefore, there is definitely no problem in acquiring the funds for the Mexican Steel Company. Now there are still many competitors that make Qiao Ge a little nervous.

There are some buyers in Europe and the United States. These guys are definitely strong. At the same time, Qiao Ge also got the news, and Lakshmi also wanted to get involved.

It was taken down by Lakshmi in his previous life, so it's not surprising that he got the news and came here now.

Obviously, Lakshmi must have received some financial support, otherwise where would he have the funds to purchase it.

So Qiao Ge approached Rohatin.

"Oh, you want to acquire that steel company. There are many opponents." After listening to Qiao Ge's words, Rohatin smiled and said, "You said you have more than 100 million US dollars in hand?"

Of course Rohatin knew this steel company, it was the largest steel company in Mexico.

The Mexican government has long sought support from the United States, so he knows the situation there very well.

"This little money is not enough for the acquisition." Qiao Ge sighed, "So I want to ask you to borrow a sum of money, about 2 million U.S. dollars. In this case, I will have 3 million U.S. dollars. I believe that at the current exchange rate, this With the money in hand, we should be able to take over the steel company.”

"How can we use 3 million U.S. dollars." Rohatin shook his head and said, "The value of this steel plant now is probably not even 2 million U.S. dollars."

"This?" Qiao Ge hesitated for a moment, thinking that Rohatin was really powerful.

In the previous life, Lakshmi finally won the steel company for about US$2 million.

"Because there are many competitors, I think we still need to prepare more funds." Qiao Ge said.

"Actually, I think your funds are completely sufficient." Rohatin smiled.

Rohatin's words made Qiao Ge a little confused.

Rohatin said that the steel plant is less than 2 million US dollars. Although it is in the early 1 million, it is less than 2 million, but no matter how low it is, it cannot be lower than 1.5 million. His more than 1 million US dollars is definitely not enough.

"I can help you here to ensure that you win the steel company." Rohatin continued, "I just need to give a little hint to the Mexican government. I believe they know what to do."

"This? Will it bring you trouble?" Qiao Ge was very surprised.

This was Rohatin using some of his power to help him. To be honest, Qiaogo really didn't have this idea.

He came here just to get some inside information from Rohatin.

Rohatyn uses his power for personal gain and can easily be caught.

"Haha~~ What trouble can there be?" Rohatin laughed, "I didn't do anything here? Don't worry, you don't have to worry about this."

Qiao Ge thought about it. Rohatin was an old fox. To him, this was a trivial matter.

Because whether the Mexican government directly seeks financial help from the beautiful country or asks for a loan from the International Monetary Fund, it all depends on the face of the beautiful country.

As the chief consultant, Rohatyn has a very strong say in this matter.

It is just a matter of appointing a company to purchase the person. How can the Mexican government refuse? How dare they refuse to give it this face?

"But what's the price?" Qiao Ge hesitated and said, "The price can't be that low. If it's too low, it will cause a lot of trouble."

(End of this chapter)