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Latest World News Update > Blog > Business > IBC data provides valuable insights to handle complex cases: M Rajeshwar Rao, Dy Governor RBI – World News Network
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IBC data provides valuable insights to handle complex cases: M Rajeshwar Rao, Dy Governor RBI – World News Network

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Last updated: December 18, 2024 12:00 am
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New Delhi [India], December 18 (ANI): M Rajeshwar Rao, Deputy Governor of the Reserve Bank of India (RBI), highlighted the importance of institutionalising data under the Insolvency and Bankruptcy Code (IBC) to provide valuable insights and precedents for handling complex cases.
In his inaugural address on December 7, at the International Conclave, jointly organised by the IBBI and INSOL India, in New Delhi, the RBI DG stated that such data needs to be gathered in a structured manner so that it can be disseminated for the benefit of all stakeholders involved.
While acknowledging the substantial progress made in cleaning up banks’ balance sheets, the Deputy Governor also underscored potential areas of improvement.

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The event brought together distinguished experts and practitioners from across jurisdictions to share insights and experiences in insolvency resolution.

Suggesting the need to improve the overall resolution ecosystem, RBI DG stated that a better understanding of the reasons behind defaults are necessary.

“Whether this is on account of the general economic environment, specific industry challenges, or professional mismanagement. This perspective can help to tailor appropriate solutions,” he stated.

He suggested that addressing the delay resulting from lack of cooperation by some corporate debtors in the insolvency process, such as delay in submitting information, withholding valuable details, using litigation to stall progress, or creating indirect obstacles to discourage potential resolution applicants, is crucial.

Finally, he added that examining valuation, including insights on how collateral types affect realization versus valuation, the impact of time on recovery, and the relationship between resolution timelines and valuation outcomes, could provide the information which can help to improve the process.

“Perhaps better valuation at the time of appraisal is the key,” he added.

Going further, he added that the disparity in valuation between the appraisal and the resolution stages is indicative of over-exuberance in valuation and possible lack of appropriate due diligence.

RBI DG further stated that a mechanism to bridge the principle-based resolution approach under out of court workout with that of the statutory umbrella of IBC is required so that a resolution initiated out of court can be transitioned and get implemented under IBC.

“We need to think of measures which can make the code an effective option for unlocking economic value of an enterprise even as we ensure strict enforcement of the provisions of the code in case of recalcitrant or unscrupulous borrowers,” he added. (ANI)

Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News

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