Insolvency and Bankruptcy Code is not immune to the shortcomings of India's justice system like delays despite being one of the key reform initiatives of the government.
RBI superseded boards of Srei Infra Finance and Srei Equipment Finance, and their insolvency process is expected to be IBC-like, as it was in DHFL’s case.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.
Farrhana Bhatt’s presence on Bigg Boss 19 can’t redefine Kashmir. But it can remind the Valley that Kashmiris deserve to be seen in their full human range—not squeezed into specific categories.
Clean energy is “no longer the sideshow, it is the show”, BVR Subrahmanyam told the Odisha summit, warning India to lead the global shift or risk others’ tech dominance.
India is now the only country still operating the Jaguar, long retired by its original users, France in 2005 and the UK in 2007, and secondary operators like Oman, Nigeria and Ecuador.
None of Pakistan’s PMs has lasted 5 years. That the current PM has given Asim Munir 5 years shows that of all military dictatorships history has seen, Pakistan’s is most creative.
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