“A company cannot go bankrupt with negligible debt” is apply to old time manufacturing company. It is not applied to technology company. Company can not servive without proper business model.
For paytm case, Market just lost faith on paytm Management. Company have some good product but doesn’t have any moat and lot’s of problem with regulator. And market still give 25000cr marketcap(its huge for many companies). For current situation,I think its fair.
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