Last month, Insolvency and Bankruptcy Board of India (IBBI) chairman Ravi Mittal had pitched for a globally-accepted, "well-structured and comprehensive standards framework" for the valuation of stressed firms under the IBC.
Indian chartered accountants mull India-Singapore platform for insolvency resolution dailyexcelsior.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailyexcelsior.com Daily Mail and Mail on Sunday newspapers.
Moreover, the data also mentioned that creditors have taken massive losses, about 83 percent haircuts in order to recover dues from top corporate debtors rescued under the IBC. 68 percent haircuts were on admitted claims.
There is absolutely no space for feudalism in an economic society which is actually based on freedom, he said at the 5th annual day of the Insolvency Bankruptcy Board of India IBBI.In a democracy or a free society, he said, there is no space for feudalism.Talking about resistance to reforms in a democracy, he said it comes from a vocal minority who have access to corridors of power.In any democracy, when you think about reform, there is always this tussle between two sets of stakeholders, one that is a vocal minority versus a silent majority, he said.
There is absolutely no space for feudalism in an economic society which is actually based on freedom, he said at the 5th annual day of the Insolvency Bankruptcy Board of India IBBI.In a democracy or a free society, he said, there is no space for feudalism.Talking about resistance to reforms in a democracy, he said it comes from a vocal minority who have access to corridors of power.In any democracy, when you think about reform, there is always this tussle between two sets of stakeholders, one that is a vocal minority versus a silent majority, he said.