Manage Shani, keep Yama away

At a conference on insolvency, Siby Antony, managing director and chief executive, Edelweiss Asset Reconstruction Company, invoked the Hindu gods Shani and Yama. Calling them benevolent gods who dispense justice, he labelled the current downturn, which kicked off around 2010, as a Shani period. He said businesses had to go through penance and make sacrifices during a down cycle to be able to emerge out of the rut and move into a boom period. Explaining how the new insolvency regime had provisions for both resolution and liquidation, Antony said, “If you don’t manage the Shani period well, then Lord Yama takes over.”