Quantum Coeffectiveness of Individual Insolvency Resolution Process For Corporate Debtorsputing for Digital Transformation of Complex Business Operations

Authors

  • Alekha Charan Rout Ph. D Research Scholar Savitribai Phule Pune University Pune
  • Dr. Girija Shankar Adjunct Professor Vishwakarma University Pune

DOI:

https://doi.org/10.33516/maj.v57i12.63-68p

Abstract

Paradoxically, in India, we find many affluent promoters with sick companies. During the last five years, the Public Sector Banks (PSBs) in India have prudentially written off non-performing assets to the tune of ₹ 7,27,680 crores which is more than the capital infused by the Government of India in them. The PSBs have a right to recover this huge sum both from the corporates and the promoter-guarantors. The provisions of the Insolvency and Bankruptcy Code (IBC), 2016 relating to individual insolvency resolution process as to the personal guarantors (PGs) to the corporate debtors (CDs) were made effective from 1st December 2019, but have yielded little results even after three years of their implementation. Out of 1,235 applications filed with NCLTs, only 90 cases have been admitted as of 30th June 2022. This Study attempts to find out the causative factors for the delays in PG-to-CD resolution and suggest remedial measures for its smooth progress and maximisation of recovery..

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Published

2022-12-01

How to Cite

Charan Rout, A., & Shankar, D. G. (2022). Quantum Coeffectiveness of Individual Insolvency Resolution Process For Corporate Debtorsputing for Digital Transformation of Complex Business Operations. The Management Accountant Journal, 57(12), 63–68. https://doi.org/10.33516/maj.v57i12.63-68p

Issue

Volume 57, Issue 12, December 2022

Section

IBC
Crossref
Scopus
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Europe PMC

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