Once your name gets spoilt, you are not going to get any money anymore.”Incidentally, the bankruptcy law provides for even suppliers to initiate insolvency proceedings. “How the committee of creditors with same set of people will perform under the code is to be seen.”As bad loans mounted through the years to unseen levels, the government became the favourite whipping boy. bad loans and restructured loans, totalled 20% of the total loans in the system, according to the Economic Survey 2017. Many of these are longterm loans from banks which depend mostly on short-term funds. Big borrowers may not see Karnas in Indian banks, but Shylocks -enforcing contracts.

Source: Economic Times June 20, 2017 18:04 UTC