Article
Suyash Rai, Anirudh Burman
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Source: Getty
In The Media
SC Only Quashed RBI Circular on Bad Loans, the Insolvency Law Still Hangs on Private Firms
The Supreme Court’s recent decision striking down the RBI’s February 2018 circular on bad loans highlights something significant about the state machinery—the extent to which it can be a source of risk for private businesses.
Published on Apr 5, 2019
Source: Print
The Supreme Court’s recent decision striking down the RBI’s February 2018 circular on bad loans highlights something significant about the state machinery — the extent to which it can be a source of risk for private businesses.
In that sense, the ruling provides an immediate relief to promoters in the power sector — mainly because the petitions challenging the RBI circular were primarily filed by power sector companies — from being dragged to insolvency courts under the Narendra Modi government’s 2016 legislation, the Insolvency and Bankruptcy Code (IBC).
About the Author
Anirudh Burman
Former Associate Research Director and Fellow, Carnegie India
Anirudh Burman was an associate research director and fellow at Carnegie India. He works on key issues relating to public institutions, public administration, the administrative and regulatory state, and state capacity.
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