M S Sahoo
 "M S Sahoo")
M S Sahoo
M S Sahoo is an acclaimed thought leader in financial markets and served as the first Chairperson of the Insolvency and Bankruptcy Board of India. He has held several significant positions in the Indian financial sector.
M S Sahoo is an acclaimed thought leader in financial markets and served as the first Chairperson of the Insolvency and Bankruptcy Board of India. He has held several significant positions in the Indian financial sector.
Page 2 - M S Sahoo
Streamlining the disciplinary process
There is a need for consistency in the adjudicating frameworks of Sebi and other market regulators to ensure fair financial market outcomes
 "Streamlining the disciplinary process")
Guaranteeing personal guarantees
Through its recent judgment the apex court has rescued the institution of surety
 "Guaranteeing personal guarantees")
When the regulated become the regulator
Effectively involving the regulated entities in the rule-making process and crowd-sourcing ideas help create a better-governed market economy
 "When the regulated become the regulator")
Questioning priority: Govt dues in IBC
Courts must safeguard the basic structure of the Insolvency and Bankruptcy Code
 "Questioning priority: Govt dues in IBC")
The goose that laid the golden eggs
AT1 bonds have a cushion on both sides. They are affected only after either equity or debt has been impacted
 "The goose that laid the golden eggs")
Basis for penalty in competition law
The sanction for triggering market failure must be based on the entire turnover
 "Basis for penalty in competition law")
A competition law that clicks for all
Different laws for rapidly changing technology-enabled markets are neither feasible nor warranted
 "A competition law that clicks for all")
Short selling and activism don't go together
Contrary to the rationale of short selling, third-party investigative reports from activist short sellers violate Sebi regulations
 "Short selling and activism don't go together")
A 'waterfall' for insolvency resolution
Honouring secured contracts and mimicking the liquidation waterfall could promote a judicious system of distribution of proceeds and minimise disputes
Delays, even with no jurisdiction
Judicial overreach and appropriation of power are slowing the insolvency process
 "Delays, even with no jurisdiction")
Gatekeepers of digital markets
Dominant digital markets as gatekeepers, a sort of front-line regulator, is a turning point in competition law enforcement
Rescuing companies before it is too late
The longevity of companies is in danger today. It is as much the responsibility of the State as of the stakeholders to prevent their premature death
Corporate insolvency: Rethinking irregular transactions
So far 786 applications have been filed to recover over Rs 2.2 trillion allegedly lost through irregular transactions. Retrieving this needs a law, policy and regulatory focus
An interim Sebi order must not be open-ended
Delayed justice is unfair to those who may ultimately be found not guilty, and also to those who may be found guilty
Spacs and other fads of high finance
A particular organisational innovation of the past has been resurrected recently, namely, the special purpose acquisition company (Spac)
Legislation: Intent and interpretation
Interpreting the margins at the cost of core legislation could be costly for the economy
The Cinderella of insolvency
Undermining operational creditors is against the basic spirit of IBC
 "The Cinderella of insolvency")
Standardising regulatory prescriptions
Realisation of statutory objectives in the securities market requires absolute clarity of statutory provisions
A Panglossian countenance on inflation
Central bank communication had moved decisively from "secrecy" to "transparency and accountability" over the decades.
Insolvency proceedings' deadline problem
The Bankruptcy Law Reforms Committee had spent considerable time on the timelines to be prescribed for various steps under the insolvency/bankruptcy proceedings
 "Insolvency proceedings' deadline problem")
