In the past couple of years, India has witnessed quick resolutions for tackling non-performing stressed assets (NPAs) and debts in India, including its restructuring thereof, by providing a powerful tool to the financial and operational creditors in the form of the Insolvency and Bankruptcy Code, 2016 (the IBC, 2016).
The effective reforms in the IBC, 2016, since its inception, has enabled the Reserve Bank of India (RBI) to clear its bad debts by the proactive attitude of the financial institutions in their declaration of various non-performing accounts of big corporates and the strict timelines in the Corporate Insolvency Resolution Process (CIRP).
This has compelled non-performing companies to put their assets on stress sale, providing …
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