The real success for the bankruptcy code will be in the successful resolution of bad loan cases and not in their liquidation, he said. Edited excerpts:Are mere technicalities derailing the IBC like in the case of Essar taking RBI to court? I think the judge was right in intervening and directing the RBI to remove that language, which they have done. Let us leave aside that one line where it seems like the RBI is directing the NCLT...That’s the main challenge. Do you think the RBI stepping into the picture has made the process messier than it otherwise might have been?

Source: Mint July 16, 2017 21:45 UTC