Biggest failing of the bankruptcy code is its institutional infirmity. A US-style debtor-in-possession bankruptcy may have been far more suitable to India’s on-the-ground reality.
Telecom payments case is another example of how govt branches are delaying bankruptcy settlements while banks suffer the world’s worst bad debt ratios.
Since the bulk of citizens did not regard drinking as a crime, they had no respect for the prohibition laws and did not cooperate with the police, wrote MV Venkata Rao in 1962.
We now live in a world order that will keep shifting. India must use this window. This also means we remain disciplined enough not to be knee-jerked into reacting to what Pakistan sees as its moment in the sun.
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