IBC referred Cases: Value investing or Value trap?

In the video at time stamp 1m 56s, S P Tulsian is saying that public shareholding of 23% in Monnet Ispat cannot be written down by Banks or NCLT. He has not given the reason for the same.

Approx Shareholding pattern in Monnet Ispat

Banks - 52%
Promoters - 25%
Public - 23%

@dd1474 Need you attention here.

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