To deal with resolution of debt-laden companies, the option of "marrying" insolvency framework with possible settlement schemes can be looked at in the future, Finance and Corporate Affairs Minister Arun Jaitley said Tuesday.He also said such an option could be thought of only after the initial rush of bankruptcy cases are cleared. "We have to see if revival is only through the Insolvency and Bankruptcy Code (IBC) or can we revive otherwise. All the schemes such as the Corporate Debt Restructuring, Sustainable Structuring of Stressed Assets or S4A, Strategic Debt Restructuring, and Flexible Structuring of Existing Long Term Project Loans were abolished. Besides, the Joint Lenders' Forum, designed to resolve potential bad debts, has also been disbanded. "I think the first suggestion, which has been coming from many people, is really the role of operational creditors, as far as the whole process is concerned.

Source: dna December 18, 2018 10:18 UTC