Data from Insolvency & Bankruptcy Board of India shows time taken to come up with a resolution plan is 2.5 times what it was 4 yrs ago. Recoveries are only about 1/3 of claim amounts.
While court order reportedly has recognition in some parts of China, the question is how far would Chinese courts recognise attempts to seize assets of indebted property developer.
Domino’s had entered the Italian market in 2015 through a franchising deal with local company, ePizza SpA. In a country used to thin-crust margheritas, Domino's unsuccessfully marketed pineapple and barbecue toppings.
India cannot be blasé about change in any important capital in the world. Let's look at five key areas where US policy matters for India and how it may vary between Harris and Trump.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
Troops patrolled up to Patrolling Point (PP) 10 on Monday. Though there are PP 10, 11, 12, 12A & 13 in Depsang Plains, it was decided that only one or two PPs would be patrolled.
While we talk much about our military, we don’t put our national wallet where our mouth is. Nobody is saying we should double our defence spending, but current declining trend must be reversed.
This column is quite shallow and avoids a few key areas where data should have been collected and presented. Increasingly IRP is becoming a rent-seeking profession and together with increased timelines, the columnist should have tracked “loading” of IRP fees in the process. Recently there have been many instances of leading creditors, including banks, challenging expenses incurred by IRP. This data should be easy to get.
Also grapevine talks about “collusion” between IRPs and insolvent parties where “qualifying criteria” for auctions are kept to ensure friendly bidding.
As a result, most creditors today are preferring to go for a bilateral settlement.
In a real estate company case I know of, a particular project’s creditors wanted to dissociate and complete the project in partnership with another builder, but were refused to do so by the IRP. Case is dragging on and asset quality declining, making it lose-lose for everyone but the IRP and the delinquent.
IBC can be reformed by making IBC remuneration fixed, timelines defined and maybe a variable based on recovery % to align with creditor interests. Unless this beast is tamed, creditors have little incentive in getting caught in what is currently a blackhole.
This column is quite shallow and avoids a few key areas where data should have been collected and presented. Increasingly IRP is becoming a rent-seeking profession and together with increased timelines, the columnist should have tracked “loading” of IRP fees in the process. Recently there have been many instances of leading creditors, including banks, challenging expenses incurred by IRP. This data should be easy to get.
Also grapevine talks about “collusion” between IRPs and insolvent parties where “qualifying criteria” for auctions are kept to ensure friendly bidding.
As a result, most creditors today are preferring to go for a bilateral settlement.
In a real estate company case I know of, a particular project’s creditors wanted to dissociate and complete the project in partnership with another builder, but were refused to do so by the IRP. Case is dragging on and asset quality declining, making it lose-lose for everyone but the IRP and the delinquent.
IBC can be reformed by making IBC remuneration fixed, timelines defined and maybe a variable based on recovery % to align with creditor interests. Unless this beast is tamed, creditors have little incentive in getting caught in what is currently a blackhole.