Amid rising cases of wilful default on loans, including the one by liquor baron Vijay Mallya, Finance Minister Arun Jaitley today said industry is fighting a battle of credibility and it should adopt positive and ethical approach towards NPAs or bad debts. "Indian industry is also fighting a major battle for its own credibility. Some recent events haven't added to their credibility," he said, without naming Mallya who has defaulted on Rs 9,000 crore loan and has gone to the UK to avoid action by investigative agencies and lenders. "In this entire debate which is going on non-performing assets, I am quite conscious of the fact that an adverse business environment can lead to non-performing assets.
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