Minister of State for Finance, Anurag Thakur, urges banks to not use IBC for every stressed asset
By INSOL INDIA EDITORIAL BOARD Posted On : September 18, 2019
Mr Anurag Thakur, MoS for Finance, addressing the annual general meeting of the IBA said that the banks and financial institutions should first attempt to resolve the stressed assets outside IBC process. This will help the banks and business community. Only if the out of court restructuring fails, the IBC should be invoked. The Minister also assure the bankers that they will not be hounded for commercial decisions, with sound business rationale, taken by them.