More From Livemint »By ecosystem, Bhattacharya said she meant benches have to be created by the National Company Law Tribunal (NCLT) to deal with dispute resolution. Also, the country needs more resolution professionals, who, under the new code, are handed control of insolvent companies until a restructuring plan is finalized, according to Bhattacharya. A leading lawyer in Kolkata said it is “strange” for the SBI chairman to make such a comment as the SBI itself has started to file applications under the new insolvency code. Under the insolvency code, there is “no middle path”, according to the lawyer cited above. “Considering the huge volume of stressed assets in the system, it is indeed crucial to have a large pool of resolution professionals,” he added.

Source: Mint July 11, 2017 18:22 UTC