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ibc: One step forward, two steps backwards? Lenders fret on new SC ruling on IBC

Banks are concerned about a recent Supreme Court ruling regarding India s Insolvency and Bankruptcy Code (IBC), which places tax departments and government agencies on par with secured creditors. The ruling has raised worries that tax authorities may claim a significant portion of the recovery, potentially compromising financial lenders interests and altering the priority of government dues. ....

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Lenders fear taxmen will eat into recovery pie

A Supreme Court order in India has recognized tax departments and government agencies on par with secured creditors under the Insolvency and Bankruptc ....

Hari Hara Mishra , Abhishek Swaroop , Supreme Court , Bankruptcy Code , Rainbow Papers , State Bank Of India , Recovery Pie , Indian Overseas Bank ,