Adanis have made three big ticket acquisitions where the realisation for lenders have been more than R1,000 crore through the corporate insolvency resolution process.
As the dragnet closes in on the Chanda Kochhar-Deepak Kochhar family enterprise, investigative agencies have found several fresh money trails. One that is extremely perturbing and damaging is the financial statement filed by NuPower Renewables .
This article attempts to understand the limitations of the Insolvency and Bankruptcy Board of India’s code of conduct. In the larger issue of balancing the interests of bankruptcy governance, it suggests structural reforms to the insolvency and bankruptcy code that aim to foster an expedient resolution process and reduce losses to creditors.