Cross-border insolvency is the missing piece in the Code: Cyril Shroff

Spotlight is on banks initiating insolvency proceedings of big-ticket stressed assets under IBC

Most cases filed in the past six months are by corporate debtors, not the banks. Do banks still find the insolvency proceedings intimidating? 

Most of the cases filed under the IBC so far are almost equally by operational creditors and corporate debtors. Not many financial creditors have filed. It might be that the IBC system and experience of insolvency professionals remain untested. And, that banks’ provisioning and asset classification norms have not been clarified. The Reserve Bank (RBI) is now ironing out some of these. 

How effective will the recent RBI measures be in forcing financial creditors to move out