RBI superseded boards of Srei Infra Finance and Srei Equipment Finance, and their insolvency process is expected to be IBC-like, as it was in DHFL’s case.
No two bankruptcies are the same, but India’s processes for handling them have some common deficiencies. It’s still not too late to turn the bankruptcy regime into a real institution.
After a brief debate by few members, the bill was passed with voice vote after which Rajya Sabha was adjourned for the day due to opposition's uproar over Pegasus among other issues.
Govt has enabled a mechanism via an ordinance under which MSMEs can continue operations using the resolution process without needing to shut shop or change management.
Parliamentary Standing Committee on Finance chairman Jayant Sinha says prepackaged bankruptcy and efficient solutions for MSMEs are policy areas in consideration.
DHFL’s committee of creditors has approved Piramal Capital’s offer of around Rs 37,000 crore for the company, which has a debt of nearly Rs 85,000 crore.
Waiver of interest-on-interest for all during the moratorium can minimise moral hazard. Keeping it selective would've run the risk of hurting credit culture.
Let zombie firms linger on & banks stay crippled a little longer if it leads to deeper reform, so India can get away from broken financial system of the 1980s.
Meeting chaired by Vice Admiral (retd) G. Ashok Kumar, India’s 1st national maritime security coordinator. ‘Crucial policy issues’ such as ‘blue economy initiative’ also discussed.
Modi govt's biggest flaw has been its disinclination to accept limitations of electoral majorities. This ruined land acquisition and farm reform, stalled labour codes.