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In an embarrassing development, a French court has frozen 20 properties belonging to the Government of India in Paris, which according to Cairn Energy is a “necessary preparatory step to taking ownership” of these properties. This long running dispute over tax arrears has come to this pass as a result of the Indian government’s arrogance and inefficiency in failing to honour international treaties and to pursue its legal options effectively, the In other views: T T Mohan Ram explains why the bankruptcy process needs a re-look, pointing out that a mechanism is needed to ensure that bank-led resolution and not the National Companies Law Tribunalis the first resort for lenders. Read it here ....