Is Insolvency the New Normal?
India's power sector is back in action again, however for all the wrong reasons. In February, India's federal bank tightened the norms for settling a bad debt by setting timelines for resolving Non Performing Assets (NPA) within 180 days for as many as 80 large borrowers.
The Stress Marks!
India's power sector is in a catch-22 situation. A sound analysis of the power sector affirms that the sector is in the ICU where 78,000 MW of projects are under stress; and approximately Rs 1,200 billion worth unviable projects and PPAs are signed for a mere 7,000 MW.
Simplifying Corporate Adjudication
The establishment of a National Company Law Tribunal (NCLT) and its Appellate Tribunal (NCLAT) will provide for an efficient, timely and one stop-shop dispute resolution mechanism, preventing fragmentation of disputes relating to companies before multiple forums.
Insolvency and Bankruptcy Code, 2016
The Insolvency and Bankruptcy Code, 2016 (Code) aims to consolidate laws relating to liquidation and insolvency of corporate persons, partnership firms and individuals in India.
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