When esel group defaulted on some of their obligations and began selling these shares in a bit to salvage what they could, the stock price crashed 30%. People couldn't believe what they were seeing. If more lenders had got in on the act, it would have been a massacre out there. But calmer heads prevailed, and despite the minest signs surrounding sel and z, other lenders chose not to sell shares out in the open. The company was still being run by shubas chandra's son, punit goenka, and investors weren't too happy with how things were panning out.