Page 13 - போது இந்தியா News Today : Breaking News, Live Updates & Top Stories | Vimarsana
Realme promises even cheaper 5G phones for India, more Narzo and GT models incoming
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For a 90 per cent haircut, try India s bankruptcy salon - The Hindu BusinessLine
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Five years ago, India came up with a legal answer to its perennial economic challenge of rescuing the money stuck in zombie firms. Unlike China, which has the cushion of high savings, India’s inefficient use of limited domestic capital has meant a chronic inability to put its swelling ranks of youth to work. After toying with the idea for more than a decade, the solution New Delhi hit upon was a modern bankruptcy code.
The numbers have been a mixed bag. According to an analysis by REDD Intelligence, of the 4,300-plus stressed debtors that have been taken through the 2016 corporate insolvency law, 48% were liquidated, half of them under 314 days. Of the 13% that got sold to bidders, half exited bankruptcy in less than 425 days. These, as the REDD researchers note, aren’t bad outcomes, considering that wait times previously were five-years-plus.
Five years ago, India came up with a legal answer to its perennial economic challenge of rescuing the money stuck in zombie firms. Unlike China, which has the cushion of high savings, India’s inefficient use of limited domestic capital has meant a chronic inability to put its swelling ranks of youth to work. After toying with the idea for more than a decade, the solution New Delhi hit upon was a modern bankruptcy code. The numbers have been a mixed bag. According to an analysis by REDD Intelligence, of the 4,300-plus stressed debtors that have been taken through the 2016 corporate insolvency law, 48% were liquidated, half of them under 314 days. Of the 13% that got sold to bidders, half exited bankruptcy in less than 425 days. These, as the REDD researchers note, aren’t bad outcomes, considering that wait times previously were five-years-plus.
While India’s two Coronavirus (Covid-19) vaccines Covishield and Covaxin await approval from the European Medicines Agency and the World Health Organisation, respectively, some European countries have gone ahead and recognised the former for the purpose of travel. At least 8 European countries, namely Austria, Estonia, Germany, Greece, Ireland, Netherlands, Slovenia and Spain have recognised Covishield, according to an HT report. This means that when these countries lift the travel ban on India, Indians vaccinated with Covishield will be allowed to travel to these countries. Apart from these 8 countries, Finland and Latvia have also reportedly approved Covishield, while Estonia has approved both Covishield and Covaxin. Switzerland and Iceland have also accepted Covishield for travel purposes.
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