Banks are happy recovering even half their bad loans than going under the IBC gavel. Here’s why.
- Sarfaesi, the original bad-loan resolution mechanism, didn’t work because of painful, lengthy processes.
- The new insolvency law, too, suffers from similar problems, forcing banks to settle cases outside its ambit.
- The government must live up to its promise of setting up fast-track and commercial courts for expeditious disposal of cases.
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