https://www.taxtmi.com/news?id=27100 Lenders must establish systems to efficiently assign eligible debt to NARCL and address inter creditor issues caused by differential security structures and additional or exclusive collateral. To expedite insolvency resolution under the IBC, banks should simplify filings, engage more experienced counsel, and ensure regular senior management monitoring of high value cases. Record of default from NeSL was proposed as sufficient evidence of default to facilitate admission of insolvency applications, and enhanced collaboration among banks' legal teams, NeSL and the insolvency regulator was recommended; MDs will closely monitor top accounts. en-us Sat, 23 Dec 2023 09:37:09 +0530 Sat, 23 Dec 2023 09:37:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=27100 Lenders must establish systems to efficiently assign eligible debt to NARCL and address inter creditor issues caused by differential security structures and additional or exclusive collateral. To expedite insolvency resolution under the IBC, banks should simplify filings, engage more experienced counsel, and ensure regular senior management monitoring of high value cases. Record of default from NeSL was proposed as sufficient evidence of default to facilitate admission of insolvency applications, and enhanced collaboration among banks' legal teams, NeSL and the insolvency regulator was recommended; MDs will closely monitor top accounts. News - Sat, 23 Dec 2023 09:37:09 +0530 https://www.taxtmi.com/news?id=27100