The Reserve Bank of India (RBI) on Tuesday said it has shortlisted 12 cases which could be immediately referred for bankruptcy proceedings. It also laid down criteria to compel banks to invoke the insolvency code to solve Indias Rs10 trillion stressed assets problem. In an email interview, M.S. Sahoo, chairman of the Insolvency and Bankruptcy Board of India (IBBI), said there are adequate number of insolvency professionals to handle cases. Edited excerpts:
How well is the National Company Law Tribunal (NCLT) infrastructure equipped to deal with this influx of bankruptcy cases?
You may ask this question to ministry of corporate affairs or NCLT. To my understanding, there are 11 benches of NCLT in operation. It is understood t…
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