It was supposed to be the magic pill that would revitalise the Indian banking system, curing the $210-billion bad loan problem. Instead, the Insolvency and Bankruptcy Code (IBC) is creating more chaos and confusion rather than clarity and clean-up.
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The Great Indian NPA Tamasha
The Insolvency and Bankruptcy Code is looking like a circus at this point, but it seems to be the only way to get both banks and unscrupulous promoters to behave
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