IBC recovery: Financial creditors back on top again

Sources said the government is also considering making a submission explicitly stating the intent of the law before the Supreme Court where the Essar Steel ruling has been challenged by the CoC led by State Bank of India. The idea is to ensure that the NCLAT verdict doesn’t set a precedent and undermine the CoC’s say on the distribution of recovery proceeds.

from The Financial ExpressThe Financial Express https://ift.tt/2O2aRfh