Ishita Sharan, legal head of the NARCL, India’s ‘bad bank’, sheds light on mounting insolvency challenges and the critical role of the bank in tackling stressed assets. Indrajit Basu reports
The report also indicates that 1,983 bankruptcy cases remain active within the corporate insolvency resolution process (CIRP) framework.
After creditors assess the recovery potential and pursue a resolution plan for a bankruptcy event, India’s insolvency procedure begins with one of two key processes: (1) a CIRP, which may lead to revival or liquidation; or (2) a pre-packaged insolvency resolution process, which seeks resolution but is not guaranteed to succeed.
“However, while the recent IBBI report indicates a positive…
