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Lehman Brothers Holdings Inc. (LBHI) bankruptcy and Merrill Lynch's acquisition by Bank of America will have a huge impact on India as both companies have a strong Indian connection. Lehman Brothers currently employs about 2,500 people in India and most of them are likely to lose their jobs. Merrill Lynch also employs 600 people in India and their fate is not known.

The global investment bank's move to file bankruptcy has already lead to a loss of nearly Rs 2,000 crore for Indian companies in which Lehman had made equity investments.

The loss would have been higher if Lehman had not started offloading its equity holdings in Indian firms last month....

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