At 21% recovery, IBC has performed worse than UPA-era debt recovery mechanisms panned for inefficiencies. The idea of a bad bank is also likely to fail if political interference and poor bank governance continue
These go to strengthen the Code, which an important measure, meant to prevent insolvency by reviving ailing businesses. The Code however, is not a recovery tool for creditors but a resolution mechanism to breathe life into stressed assets of the corporate debtor
Pro-Poor Micro, Pro-Markets Macro: Defying Dogmas, Modinomics Is Emerging As A Clever Strategy For Governments To Adopt
by Arihant Pawariya - Feb 5, 2021 05:05 AM
Prime Minister Narendra Modi.
Snapshot
Modi is the only Prime Minister who has been able to openly champion economic reforms yet enjoy massive support among the poor.
This has been made possible, thanks to his efficient handling of the political economy.
One of the most satisfying chapters to read in 2020-21 Economic Survey is about the progress made by the Indian state in expanding access to âthe bare necessitiesâ like housing, water, sanitation, electricity and clean cooking fuel to its citizens over the last few years.
Read more about Supreme Court upholds changes in IBC to initiate case against debtor firms on Business Standard. Justice Joseph, who wrote the 465-page judgement for the bench, upheld the amendments made in Sections 3, 4 and 10 of the IBC (Amendment) Act 2020
In August 2018, both the entities had executed a term sheet after the property owner, Goodwill Theatres, approached Sunteck Realty for the redevelopment of a property in South Mumbai.