You are here: Home » Companies » News
Abu Dhabi Investment Authority to invest Rs 5,683.50 cr in Jio Platforms
What did it take Ashok Leyland to come up with a customised truck?
Business Standard

NCLT needs clear set of protocols to flatten bankruptcy curve, say experts

Debt restructuring schemes under company law, and introduction of Code-based pre-packs are worth exploring, say experts

Topics
Coronavirus | Insolvency and Bankruptcy Code | Lockdown

Sudipto Dey 



Illustration: Ajay Mohanty
Experts say there is no outer date for the completion of a scheme of arrangement. Illustration: Ajay Mohanty

The temporary suspension of insolvency applications on lockdown-induced defaults has put the spotlight on the corporate debt restructuring schemes in the company law, and the introduction of (IBC)-oriented pre-packs. Experts, however, are divided on the efficacy of these schemes in their current form. For the alternative debt resolution mechanism to be effective, the Act, 2013, and the Code need to be amended, they argue.

TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH.

SUBSCRIBE TO INSIGHTS

What you get on Business Standard Premium?

  • icon Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • icon Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • icon Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
  • icon Pick your 5 favourite companies, get a daily email with all news updates on them.
  • icon 26 years of website archives.
  • icon Preferential invites to Business Standard events.

OR

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.


We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sun, June 07 2020. 19:43 IST

.