Never before have so many of Indias most-indebted companies faced the threat of insolvency proceedings. It is somewhat hard to capture, or even understand, the full import of all that has happened in corporate India over the past two weeks, but this is clearly a new chapter playing out. Events have unfolded very quickly after…
NEW DELHI/ KOLKATA: Efficiency of the resolution infrastructure depends on the capabilities of the insolvency professionals The Insolvency and Bankruptcy Board of India (IBBI), the regulator overseeing bad-loan resolutions, is scaling up its capabilityassessment procedures to ensure that quality Insolvency Professionals are deployed in the potentially `8 lakh-crore exercise, seeking to win over an ecosystem…
Banks, which were earlier reluctant to even acknowledge bad loans, in the aftermath of the RBIs stricter non-performing asset (NPA) recognition norms, have started provisioning for them. However, there has been little clarity on the recovery or resolution of the NPAs. To speed up the recovery, the government recently introduced the Insolvency and Bankruptcy Code…