Insolvency & Bankruptcy Code – Towards Achieving Full Potential (Keynote Address by Shri Shaktikanta Das, Governor, Reserve Bank of India - January 11, 2024 - At the Conference on Resolution of Stressed Assets and Insolvency and Bankruptcy Code (IBC) organised by the Centre for Advanced Financial Learning (CAFRAL), Mumbai)

Insolvency & Bankruptcy Code – Towards Achieving Full Potential (Keynote Address by Shri Shaktikanta Das, Governor, Reserve Bank of India - January 11, 2024 - At the Conference on Resolution of Stressed Assets and Insolvency and Bankruptcy Code (IBC) organised by the Centre for Advanced Financial Learning (CAFRAL), Mumbai) https://www.taxtmi.com/news?id=27154 The address evaluates the Insolvency and Bankruptcy Code as a creditor centric statutory framework and outlines the Reserve Bank's role in operationalising it for large stressed accounts. It highlights implementation gains-resolution and settlement outcomes, improved recoveries against liquidation and fair values, and behavioural changes due to the credible threat of insolvency-and identifies key challenges: delayed CIRP timelines, litigatory tactics, creditor coordination gaps and judicial bottlenecks. It proposes four priorities: wider use of PPIRP, reaffirming financial creditor led resolutions, legislating a group insolvency framework, and developing a vibrant secondary market for stressed assets. en-us Thu, 11 Jan 2024 17:04:50 +0530 Thu, 11 Jan 2024 17:05:00 +0530 TaxTMI RSS Generator Insolvency & Bankruptcy Code – Towards Achieving Full Potential (Keynote Address by Shri Shaktikanta Das, Governor, Reserve Bank of India - January 11, 2024 - At the Conference on Resolution of Stressed Assets and Insolvency and Bankruptcy Code (IBC) organised by the Centre for Advanced Financial Learning (CAFRAL), Mumbai) https://www.taxtmi.com/news?id=27154 The address evaluates the Insolvency and Bankruptcy Code as a creditor centric statutory framework and outlines the Reserve Bank's role in operationalising it for large stressed accounts. It highlights implementation gains-resolution and settlement outcomes, improved recoveries against liquidation and fair values, and behavioural changes due to the credible threat of insolvency-and identifies key challenges: delayed CIRP timelines, litigatory tactics, creditor coordination gaps and judicial bottlenecks. It proposes four priorities: wider use of PPIRP, reaffirming financial creditor led resolutions, legislating a group insolvency framework, and developing a vibrant secondary market for stressed assets. News - Thu, 11 Jan 2024 17:04:50 +0530 https://www.taxtmi.com/news?id=27154