Top US billionaires, including Amazon CEO Jeff Bezos, SpaceX CEO Elon Musk, and Meta executive Mark Zuckerberg have lost over $10 billion on Monday.

The case is shaping up as a lesson about the perils of lending at a time when money can rapidly disappear across borders.

Recoveries will need to come from how Indian courts rule on the company's broader insolvency plan and how it aims to repay ...