Being bankrupt is a state of inability to repay debts to creditors. (Illustration by: C R Sasikumar)
Lok Sabha last week passed The Insolvency and Bankruptcy Code, 2015, a law aimed at speedy winding up of insolvent companies, lowering NPAs, and redeploying capital productively. KHUSHBOO NARAYAN explains a significant reform given the bad-loan crisis in banking, and cases of default such as Mallyas.
Technically, what exactly does bankruptcy amount to India?
Being bankrupt is a state of inability to repay debts to creditors. Under the proposed law, a bankrupt entity is a debtor who has been adjud…
Read the full article at: http://indianexpress.com/article/explained/bankruptcy-code-passed-why-the-proposed-bankruptcy-code-is-needed-how-itll-tackle-bad-debts-2792444/
