Video: Aircel files for bankruptcy, the latest on the Nirav Modi case on The Good, the Bad and the Ugly

India's Toll Operate Transfer (TOT) initiative has received a surprisingly enthusiastic response from potential investors and operators of road projects. Australia's Macquarie group has won the contract to operate 9 highways of 700 km length in all under TOT for a period of 30 years. Macquarie bid Rs 9681 crore, 50 percent higher than the government's expectation of Rs 6258 cr. This is a GOOD sign as the government hopes to raise Rs 2 lakh cr via TOT projects over 5 years. The money will be invested in new infrastructure projects such as Bharatmala and Sagarmala.Telecom services firm Aircel has filed for bankruptcy under the Insolvency and Bankruptcy Procedure in NCLT Mumbai, saying high debt and mounting losses, following a price war triggered by a new entrant, have led the company into trouble. This was after its Malaysian owner T Anantha Krishnan decided not to make any fresh investment into the company. Aircel has outstanding debt of Rs 15,500 cr which it is unable to service. Fugitive fraudster Nirav Modi has replied to CBI's mail from his official email account saying he cannot join the probe. He replied that he has business abroad and he won't be able to join. The CBI has written back to him to contact the Indian embassy in the country he is in so that he could be brought back to India. Meanwhile, Mehul Choksi's lawyer Sanjay Abbot has said that Choksi could not travel to India "since his passport had been revoked". Watch Businesstoday.in's editor Rajeev Dubey as he analyses the Good, the Bad and the Ugly of the Indian economy