The job of an insolvency resolution professional (IRP) is not all about exercising power just because he or she is is empowered, said Ashish Chhawchharia , partner restructuring services, Grant Thornton Advisory , which is now engaged in supporting ongoing insolvency proceedings at many firms including two of the large dirty dozen cases -Alok Industries and Monnet Ispat. You don’t need to be too friendly or strictly formal. There is a humane side to it as you need to understand why people, whose salaries are not paid, are agitating, he told Saikat Das in an interview.
Edited excerpts:
What is your initial experience here?
It is a paradigm shift. From a `debtor in possession’ to `creditor in control’ this ha…
Read the full article at: http://economictimes.indiatimes.com/markets/expert-view/lack-of-awareness-of-insolvency-code-hindrance-to-resolution-ashish-chhawchharia/articleshow/60849714.cms