spot_img

HinduPost is the voice of Hindus. Support us. Protect Dharma

Will you help us hit our goal?

spot_img
Hindu Post is the voice of Hindus. Support us. Protect Dharma
21.8 C
Sringeri
Tuesday, June 25, 2024

Book excerpt – ‘Defaulter’s Paradise Lost: Demystifying the Insolvency and Bankruptcy Code’

“Book excerpt | Defaulter’s Paradise Lost: Demystifying the Insolvency and Bankruptcy Code”, First Post, August 27, 2023:

“Financial defaults are not a new phenomenon in the Indian banking sector. Against this background, the Government has introduced strong legal remedies from time to time for lenders against defaulting companies.

In a democracy as large as India, where many times shelter was taken under the principles of natural justice by borrowers, it wasn’t a simple task for the bankers, Non-banking Financial Companies (NBFCs) and other lenders to prosecute and hold accountable the defaulters, especially those doing so at the cost of public money given the not-so-satisfactory performance of the legal recourses available to them.

Proceeding under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest (SARFAESI) Act, before the Debt Recovery Tribunals (DRTs), restructuring of companies before the Board for Industrial and Financial Reconstruction (BIFR) and money recovery suits had their own challenges, especially with respect to the time taken……”

Read the full article at Firstpost.com

Subscribe to our channels on Telegram &  YouTube. Follow us on Twitter and Facebook

Related Articles

Web Desk
Web Desk
Content from other publications, blogs and internet sources is reproduced under the head 'Web Desk'. Original source attribution and additional HinduPost commentary, if any, can be seen at the bottom of the article. Opinions expressed within these articles are those of the author and/or external sources. HinduPost does not bear any responsibility or liability for the accuracy, completeness, suitability, or validity of any content or information provided.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles

Sign up to receive HinduPost content in your inbox
Select list(s):

We don’t spam! Read our privacy policy for more info.

Thanks for Visiting Hindupost

Dear valued reader,
HinduPost.in has been your reliable source for news and perspectives vital to the Hindu community. We strive to amplify diverse voices and broaden understanding, but we can't do it alone. Keeping our platform free and high-quality requires resources. As a non-profit, we rely on reader contributions. Please consider donating to HinduPost.in. Any amount you give can make a real difference. It's simple - click on this button:
By supporting us, you invest in a platform dedicated to truth, understanding, and the voices of the Hindu community. Thank you for standing with us.