 "Insolvency and Bankruptcy Code: Firms cope with changing landscape")
The Supreme Court verdict scrapping a Reserve Bank of India (RBI) circular dated 12 February 2018 on restructuring stressed assets may prolong the resolution of debt-laden companies and force lenders to bring cases in which progress has been made back to the drawing board.
On 12 February 2018, RBI had asked banks and other lenders to execute a resolution plan for big stressed accounts by a 180-day deadline, failing which they were to file insolvency petitions against the companies in the National Company Law Tribunal (NCLT). The deadline got over on 31 August 2018.
Anil Gupta, vice president (financial sector
