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Shifts in Business-Politics Paradigms: Exploring Lessons and Future Growth Read chapter Read first chapter

2019 | OriginalPaper | Chapter

9. Drifts in Banking Business and Deepening Losses Amidst the Insolvency and Bankruptcy Code, 2016

Authors : Deepak Tandon, Neelam Tandon

Published in: Business Governance and Society

Publisher: Springer International Publishing

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Abstract

The Insolvency and Bankruptcy Code, 2016 (IBC) has been one of the most ground-breaking laws enacted in the country in recent times. It has already subsumed the existing Sick Industrial Companies Act (SICA), revamped the Debt Recovery Tribunals (DRT) and has emerged as a major legislation. Consequent to the implementation of IBC, there has been a paradigm shift in the debt-recovery scenario in India. Encompassing all companies, partnership firms and individuals, the code offers uniform, comprehensive insolvency legislation along with coherent and consistent provisions for the stakeholders affected by inability to pay debt or business failure. Unlike the time-consuming and never-ending process that used to be prevalent earlier, the code aims to attain time-bound and effective bankruptcy resolution. Now, the Insolvency and Bankruptcy Board of India (IBBI) has taken a pivotal role. This chapter analyses the IBC’s effectiveness in handling the situation that it was created for.

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Appendix
Available only for authorised users
Footnotes
1
In this paper the currency quotations in INR to be converted in international standards according to following pattern:
Indian quotation
Amount
International quotation
1 lakh
100,000.00
100 thousands
10 lakhs
1,000,000.00
1 million
1 crore
10,000,000.00
10 million
10 crores
100,000,000.00
100 million
 
Literature
Bhinder, B. (2017, September). India overhauls insolvency framework. International Financial Law Review.
Brian, Y. (2017, September). Indian banks decentivised by insolvency code. International Financial Law Review.
Chatterjee, S., Shaikh, G., & Zaveri, B. (2017). Watching India’s insolvency reforms. Quint.
CRISIL. (2017, October). Operating profits of banks to stabilise by year end. Press Release.
EY. (2017, August). Insolvency and bankruptcy code – 2016, Experiencing the code.
Kaveri, V. S. (2017). Ordinance on new NPA resolution policy – An overview. Journal of Commerce and Management Thought, 8(4).CrossRef
Kohli, R. C. (2017). Practical guide to NPA resolution. New Delhi: Taxmann Publications.
Mondol, D. (2016). The last mile. Business Today, 25(11).
Stern, N. (2016, May). Proposed India bankruptcy update would establish needed improvements. Business Credit, 118(5).
Metadata
Title
Drifts in Banking Business and Deepening Losses Amidst the Insolvency and Bankruptcy Code, 2016
Authors
Deepak Tandon
Neelam Tandon
Copyright Year
2019
Publisher
Springer International Publishing
Book
Business Governance and Society

Print ISBN: 978-3-319-94612-2

Electronic ISBN: 978-3-319-94613-9

Copyright Year: 2019

DOI
https://doi.org/10.1007/978-3-319-94613-9_9