The bankruptcy process has been plagued by poor recoveries and long delays with public sector banks sustaining huge write-downs. But it’s a new symptom of an old problem, Debashis Basu
suggests. “The fact is the massive bad loans are due to deep corruption and the nexus between bankers, businessmen, and politicians in PSBs. It is the same corruption in PSBs which is now allowing the IBC to be gamed.” Read his analysis of the troubled IBC process here
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