Bet on well-managed NBFCs

The recent developments around the Insolvency and Bankruptcy Code (IBC) will impact investors in various ways.  The Essar Steel case led to some consternation for financial creditors. The original allocation of funds from the Rs 42,000 crore offer by ArcelorMittal meant that financial creditors would have recovered over 90 per cent of their claimed dues. However on appeal, the allocation was changed to allow financial creditors to take roughly 60 per cent recovery of their claims, while operational creditors were also awarded about 60 per cent. If this precedent had held, financial .....

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