5 years of IBC: Loans taken out for telecoms, oil assets gobbled up Videocon
So far, the course of the Insolvency and Bankruptcy Code has been mixed. The steel sector has proven to be one of the main beneficiaries of the Code. But insolvency proceedings for big companies like Reliance Communications and Videocon have been derailed, in part because of litigation. The Reserve Bank of India’s decision not to allow asset reconstruction companies to bid on troubled assets has further prolonged the insolvency process.
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First published: Wednesday, June 15, 2022. 06:04 IST