Insolvency and Bankruptcy Code

/Tag: Insolvency and Bankruptcy Code

Modi’s actions speak louder than fake bluster on ‘crony capitalism’

2020-08-20T07:11:19+00:00October 8th, 2018|2017/2018, Global Edition – October 2018|

The Indian government’s decisive and structured crackdown on corrupt practices sits uneasily with any allegations of corruption, writes India Inc. Founder & CEO Manoj Ladwa. India’s Opposition are hell bent on hanging the charge of corruption and crony capitalism on Indian Prime Minister Narendra Modi, even twisting and mistranslating emails and statements in French to “prove” that the Indian government helped industrialist Anil Ambani’s Reliance Group bag the offset contracts for the Rafale fighter aircraft deal. This allegation sits uneasily [...]

Big reforms underway but Indian banking still a long way away from good health

2020-03-24T06:27:12+00:00March 16th, 2018|2017/2018, Global Edition- March 2018, Sector Focus, Year|

The Narendra Modi government and the Reserve Bank of India (RBI) have taken major steps to bring recalcitrant promoters to book and clean up the $210-billion bad loan crisis plaguing the Indian banking system. These can address the issue for now but privatisation is not politically feasible. The scandal over fugitive billionaire Nirav Modi flying away to an unknown destination leaving behind unpaid loans of $1.8 billion has brought the festering bad loan crisis in the Indian banking system to [...]