India Is No Country for Dying Firms

No two bankruptcies are the identical, however India’s processes for dealing with them have some frequent deficiencies. Throughout the nation, 27 tribunals are being run by 29 judges; not less than 25 wanting what’s required. Many haven’t any expertise in monetary issues. One decide, M.B. Gosavi, sits on 4 benches. Instances from Noida, a suburb of Delhi the place large builders have defaulted to homebuyers, land earlier than a single tribunal member 300 miles away. The insolvency courts additionally adjudicate unrelated issues underneath the Corporations Act, overwhelming an already strained system. 

https://www.washingtonpost.com/enterprise/india-is-no-country-for-dying-firms/2021/08/22/af2b95f2-03a1-11ec-b3c4-c462b1edcfc8_story.html?utm_source=rss&utm_medium=referral&utm_campaign=wp_business | India Is No Nation for Dying Corporations

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