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Implementing approved resolution plans amid Covid a challenge for India Inc

Experts point out the basic philosophy of the Code is to refer to the commercial wisdom of the CoC

Topics
Coronavirus | debt resolution | IBC resolution

Sudipto Dey  |  New Delhi 

Implementing approved resolution plans during the pandemic is turning out to be tricky for corporate India.

At least half-a-dozen such plans -- approved by committees of creditors (CoCs) and the National Company Law Tribunals -- are currently under re-negotiation on the pricing front or for relaxation in performance parameters, say experts. While the government has announced measures to ensure that there is no fresh initiation of pandemic-induced insolvency proceedings over the next six to 12 months, it has so far chosen to remain silent on the implementation challenges faced by the ...

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First Published: Sun, June 28 2020. 19:16 IST
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