Letter to BS: Supreme Court endorses the Insolvency and Bankruptcy Code

Apropos your lead editorial, “A resounding nod”, (January 29) on the judgment given by a two-judge bench of the Supreme Court on petitions questioning several aspects of the Insolvency and Bankruptcy Code, I would say that the judges deserve kudos. They have taken a practical, business-like stand on this important new law, unlike many legal minds who miss the spirit of the law.

Perhaps it is time for separate tribunal/s with powers of the high court to be formed to fast-track all cases pertaining to several commercial laws. This would not only ensure timely justice but also improve cash flow for banks and the government coffers, revitalise dormant assets, remove hardship for suffering employees and create new employment.

Ramesh A Vaswani  New Delhi

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