Resolving DHFL: Need for a template for all stressed NBFCS
Updated : July 29, 2019 08:46 AM IST
Let us first acknowledge, the country doesn’t quite have a template to resolve stressed non-bank finance companies or NBFCs.
The Bankruptcy Code is not meant for and cannot work in the case of NBFCs.
The first big NBFC to default was IL&FS and there the government chose the National Company Law Tribunal or the NCLT route.