vulture finance is a private equity strategy to take-over a FAILED / DEFAULTED / DEAD company or asset .
TWO REASON FOR THIS ACTIVITY ARE AS FOLLOWS :-
first reason is to dismantle it and sell it off piece by piece , keeping just the bare necessities at hand like important patents , R&D data , etc
is the belief you can turn the whole mess around and convert it into successful business venture .
is this kind of activity common in india ?
are there any well-known entities already doing this work ?
Recently RBI cleared way for vulture funds into India with some conditions.Go through the below link to know more on this
Many firms deal in distressed space along with other but to mention few like SSG capital,AION capital partners,Oaktree capital concentrate only in this space in India.