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Chapter 26: Risks Posed by the Insolvency and Bankruptcy Code
Risks Posed by the Insolvency and Bankruptcy Code
For the past several years, bank lending to the private sector in India has been hobbled by a large and growing volume of non-performing assets (NPAs). The Insolvency and Bankruptcy Code (IBC), 2016, seeks to ameliorate the distress of lenders—secured and unsecured financial creditors—by a transparent, time bound and efficient process for the resolution of NPAs. It is critical that the IBC protects the salubriousness of the future business environment by protecting the interests of operational creditors as well. The Rubinstein alternating offers model of bargaining is used to estimate a fair division between financial and operational creditors.47
In 1997, during the Asian financial crisis, the Thai baht went into ...