The Insolvency and Bankruptcy Code, 2016
In 1999, the Justice Eradi Committee, in its report, had identified 473 winding-up cases that were pending for more than 25 years. The analysis of companies under liquidation as on October 31, 2015, furnished by the Department of Financial Services indicates that there were 1,479 pending winding-up cases for more than 20 years, indicating relative triple-time increase in data of winding-up cases still pending.
According to central bank data, stressed assets (which include gross bad loans, advances whose terms have been restructured and written-off accounts) rose to 14.5% of banking sector loans at the end of December 2015. Thats almost Rs 10 tri…
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