Resolution versus creditor rights: India strongly needs to tame SARFSESI Act
KOTHARI, VINOD
Resolution versus creditor rights: India strongly needs to tame SARFSESI Act - 2013 - 14-18
Resolution of sickness, liquidation and enforcement of security interests need a balance. Enforcement of security interests is a topical remedy, while liquidation is a holistic remedy. Before either of these, the possibility of revival of a bankrupt entity need to be evaluated, as the society cannot afford to kill business which have a chance of survival. Unbridled enthusiasm in enforcing the provisions of the SARFAESI Act has created a situtation where the vry philosophy of revival of companies has been put to question.
REORGANIZATION
658.16
Resolution versus creditor rights: India strongly needs to tame SARFSESI Act - 2013 - 14-18
Resolution of sickness, liquidation and enforcement of security interests need a balance. Enforcement of security interests is a topical remedy, while liquidation is a holistic remedy. Before either of these, the possibility of revival of a bankrupt entity need to be evaluated, as the society cannot afford to kill business which have a chance of survival. Unbridled enthusiasm in enforcing the provisions of the SARFAESI Act has created a situtation where the vry philosophy of revival of companies has been put to question.
REORGANIZATION
658.16