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The insolvency and bankruptcy code is not living up to its promise

Updated : February 26, 2019 01:54 PM IST

Of the 816 corporate debtors under the resolution process, about 50 percent have already exceeded the timeline, according to reports from rating agencies.
In terms of both the infrastructure and the qualifications of the judges, the rescue plan for saving drowning companies is more ambitious than similar processes in London and Singapore.
The bids to find an investor to save the company, after having been approved by the committee of creditors fall flat when the investor withdraws or fails to keep its promise, leading to the restart of the whole process again or an unfortunate doom to liquidation.
The insolvency and bankruptcy code is not living up to its promise
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