The newly enacted Insolvency and Bankruptcy Code is expected to address the long standing need for a strong bankruptcy mechanism to help the banks and other creditors to effectively deal with the errant promoters of defaulting business entities and time-bound resolution of mounting NPAs.
The law on the subject is still evolving and there are many grey areas where the bankers feel the need for greater clarity by the framers of the law. To provide the bankers with a platform for a free exchange of their views on the subject and shed their misgivings BQ Global organized a talk on the subject by Dr. M.K. Sahoo, Chairman, Insolvency and Bankruptcy Board of India (IBBI) on 17 th Sept. 2017 in Mumbai. Senior Executives of many banks based in Mumbai participated.