Corruption and Abuse Threaten Modi Government’s Showcase Bankruptcy Law

Рет қаралды 14,472

Жыл бұрын

The Insolvency and Bankruptcy Code (IBC) or bankruptcy law, which promised to put an end to financial loot by corporate India of public sector banks (PSBs) with swift and efficient completion of insolvency proceedings, is in a shambles today plagued by charges of corruption, fixed deals between corporate houses and lenders. Watch this week’s video, as Sucheta Dalal takes a deeper look at the required changes in IBC to make if effective again.
For more read: www.moneylife.in/article/corr...
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Пікірлер: 53

@shirishshanbhag1199 Жыл бұрын

Excellent financial fraud investigation report, as you did lot of times in the past, Sucheta Madam.

@nandakumar-qs5sr Жыл бұрын

More power to your elbow. And more. 👍👍👍👍👍👍

@Madhu2405 Жыл бұрын

Happy to hear you say “The GST has come on line after lots of hiccups.” I had considered IBC to be the greatest achievement of this govt. Sad to see it going down the tube.

@shenoyenterprises Жыл бұрын

Thank You for bringing up this topic. It'll ruin our Banking, and Destroy our Economy. Even though Our Economy is Very Strong, but these small dents will go the Sri Lankan way.

@rupertnoronha6480 Жыл бұрын

Good you are highlighting and addressing this issue. Many retail investors are stuck/trapped in Cos like SREI gone into NCLT.

@shubchatt Жыл бұрын

Thanks for covering this for us. We need to seriously tighten such legislations.

@2004msjayam Жыл бұрын

Very good updates on IBBC

@krishnansm438 Жыл бұрын

Court cases have played havoc in the process.

@AA-zp1eg Жыл бұрын

The suggestion would be to merge drt and sarfaesi act together and have Debt recovery tribunal as the adjudicating authority. It also includes to broaden the scope of the act to not just banks and financial institutions but for everyone. Let IBC have a separate tribunal of its own. When a case related to finance comes, the first point is the DRT and if and only if DRT is satisfied, the case will be transferred to IBC designated tribunal. Both DRT and IBC would have its own appellate tribunal of its own. All other company law matters will be dealt with by NCLT and NCLAT.

@MrSpiritsurf Жыл бұрын

Big fan page of Ms. Dalal and her courage.

@shankar49677 Жыл бұрын

The act is not saving assets which is prime motive. It has become another settlement, liquidate,asset stripping, land value fixing. Old wine in new bottle

@nitinjoshi6216 Жыл бұрын

Pray god almighty,. Let truth prevail fully. We want our country to progress prosper beyond doubt. Such pests around us always be taken up is felt. How, no idea currently

@Manohar1980 Жыл бұрын

Sucheta Mam. You are doing great work for the betterment of India. Re the videos one suggestion. Hope you dont mind. Business stories esp the complex ones with various twists and turns, if slightly simplified as summary when the video starts will be great for avg listener comprehension. The spicy, the juicy parts that make listener fall from the chair can be kept away from the summary. This will make the videos more fun and more comprehensible

@AchalSridharan Жыл бұрын

As always, well researched. Wonder if there is any institution of the Government and de facto almost everyone who is part of the Government both at the Central or State level are not corrupt? I find that from birth certificate to death certificate there is corruption.

@pavankulkarni746 Жыл бұрын

Isn't this job of Finance Minister rather than Prime Minister?

@chiragshah6419 Жыл бұрын

I don't know if you have looked into this, but while it's going on at big levels, corruption is rampant at even smaller size. You can see how defaulter property to be auctioned is being put up at above market rates for years at a stretch and then claiming no buyers, getting settled at half to 1/4th the amount.

@arvindronad4508 Жыл бұрын

Madam, very constructive suggestions for the survival of a safe financial system of the country; but who cares for the country

@bibekghatak5860 Жыл бұрын

Yes I agree .

@shankar49677 Жыл бұрын

You are absolutely right. RPs are caught in a bind legally. They are simply carrying out minuting work and attending court to defend themselves. Major cases are fixed. Deloitte partner getting debarred - for 3 years.

@mohammedbhagat Жыл бұрын

May you remain ever young to give us more such news.

@hb-ss1bs Жыл бұрын

Dream Procon books of accounts could not be obtain in 180 days. Non Cooperation Application was never submitted. 😮

@sumanmom Жыл бұрын

The biggest scam of 21st century is Baigbazzar Future Retail and reliance deal , reliance captured 947 stores of future Retail without completing deal and now yelling for 5000 crores saying they are operational creditors, chor machaye shor---reliance industries..

@asitpatel5957 Жыл бұрын

Corruption has now become a part of Indian DNA. How can we reverse this in an electoral democracy?? You can show a mirror, but no one acts to correct it. It's also high time we - as a nation, stopped looking at one person/ authority to fix all our ills. Stringent and time-bound punishment with a wider tolerance for collateral damage seems to be the only possibility - however unfortunate it may be.

@bm8292 Жыл бұрын

Thanks Madam.

@mintusaren895 Жыл бұрын

Nclt vs ncalt. And Supreme Court of India. References Barish Wakil vs Chartar Acooutant.

@ramamurthysankar4547 Жыл бұрын

The dilatory judicial process as a danger to the IBC was pointed out by Raghuram Rajan

@syams84 Жыл бұрын

Pls make a video on how irrational are AT1 bonds

@narayannaik4495 Жыл бұрын

Excellent news

@mintusaren895 Жыл бұрын

I have a idea. If 1000000000 crs loan and default. How to recover. Part or full . Co in a compact.

@mintusaren895 Жыл бұрын

Tribunal was basic.

@AA-zp1eg Жыл бұрын

Yes I agree that GST is complex, but how can you compare GST legislation with insolvency code? Is there any company who went to insolvency because of GST? No clue about the logic...

@vijivijayaraghavan Жыл бұрын

Sad state of affairs

@manjulashanmugasundaram706 Жыл бұрын

Workers and supplier SMEs being operational creditors were painful victims of this code Some relief to them isn't such a bad thing, is it?

@mintusaren895 Жыл бұрын

As I think. Nclt CA TO SAY FIRST THAN WAKIL. SUPREME COURT USE TO LISTEN WAKIL first.

@mintusaren895 Жыл бұрын

Change of nclt in a few years. Noted.

@S_M_0009 Жыл бұрын

👍👍👍

@jaspreetmodi Жыл бұрын

Sucheta ji - Is Adani;s rise genuine or where is the catch ?

@shirishag75able Жыл бұрын

@@saurabhjaipuria4786 He is a soft target because he has raised a huge number of loans and nobody knows at what terms those were raised. It is supposed to be a listed entity and they have a fiduciary responsibility to share such kind of details. But alas, we only come to know even the amounts through business papers such as ET and others. Even shareholders never have a proper picture of what's going in any company :(

@mintusaren895 Жыл бұрын

Three tier of bankruptcy laws.

@AbdulSamad-zh5gv Жыл бұрын

👍

@vikramdoshi6890 Жыл бұрын

Pls throw lights on ADANI group About FITCH rating

@AA-zp1eg Жыл бұрын

For all problems we blindly blame central government. Why no one is ever doubting whether the governments legal advisers and other bureaucrats have any ill-agenda to destroy the legislation, which is otherwise good for the country. Why no one questions the complicated mess in the legal system created by the UPA government? Why only when this government is in power? Why can't we understand the complexity that this government is facing to untie the complex tie created?

@commonerIndian Жыл бұрын

nice

@AA-zp1eg Жыл бұрын

The main problem of ibc is, banks and financial institutions giving haircuts.

@VeeraRaghavan Жыл бұрын

Proves any law will be hair split to look for loopholes & lots of monies made..

@SuperHarun007 Жыл бұрын

The way RAMDEV Bought ruchi soya was a sham . You people look the other way when there is something else that is more important than economics

@ksr998 Жыл бұрын

Far from facts.misleading analysis.

@shirishag75able Жыл бұрын

Remember the Aadhar circular. First they say, don't share your Aadhar, then they took back the circular. Then they made a vague circular that basically states that you need to be careful about Aadhar details. At the end of the day, the whole idea being if your Aadhar details leak out and some fraud happens due to that, please don't come to us for answers.