Insolvency and Bankruptcy Code bogged down by low bids, delayed resolutions, says SBI chief Rajnish Kumar

“Whenever the bidders are trying to suppress the price of the asset, bankers will prefer to take the company to liquidation rather than sell it off at a huge discount to the new promoters. In quite a few cases, this has happened,” Kumar said while emphasising that the “payment discipline is sacrosanct”.

Insolvency and Bankruptcy Code bogged down by low
There are only few people who are capable of taking up huge projects- SBI chairman Rajnish Kumar, Image source:Reuters

By accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

x