{"id":29235,"date":"2018-10-24T17:41:16","date_gmt":"2018-10-24T12:11:16","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=29235"},"modified":"2018-10-24T17:41:16","modified_gmt":"2018-10-24T12:11:16","slug":"miles-to-go","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/miles-to-go\/","title":{"rendered":"Miles to go"},"content":{"rendered":"<p><a href=\"http:\/\/www.thehindu.com\/opinion\/editorial\/miles-to-go\/article23953472.ece\">Miles to go<\/a><\/p>\n<p>Bankruptcy code<\/p>\n<p><strong>News:<\/strong><\/p>\n<ol>\n<li>The new Insolvency and Bankruptcy Code (IBC) witnessed a major success when Tata Steel acquired 73% stake in the bankrupt firm Bhushan Steel.<\/li>\n<\/ol>\n<p><strong>Important facts: <\/strong><\/p>\n<ol start=\"2\">\n<li>The proceeds from the acquisition will go towards settling almost two-thirds of the total outstanding liabilities that Bhushan Steel owes banks.<\/li>\n<li>In future, if banks recover funds of such considerable scale, then:<\/li>\n<li>It would considerably reduce the burden on taxpayers and<\/li>\n<li>It would free valuable assets to be used for wealth-creation.<\/li>\n<li>The challenges which remains for the\u00a0bankruptcy\u00a0resolution process are:<\/li>\n<li>The proposed eligibility criteria for bidders,<\/li>\n<li>Restriction of capacity in helping out creditors efficiently, and<\/li>\n<li>Strict time limit for the resolution process.<\/li>\n<li>The possible measures to be taken are:<\/li>\n<li>A robust market for stressed assets that is free from all kinds of entry barriers is requird,<\/li>\n<li>Recommendation of the Insolvency Law Committee for a relaxed bidder eligibility criteria should be implemented, and<\/li>\n<li>Amendments to the bankruptcy code should primarily be driven by the goal of maximising the sale price of stressed assets.<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>Miles to go Bankruptcy code News: The new Insolvency and Bankruptcy Code (IBC) witnessed a major success when Tata Steel acquired 73% stake in the bankrupt firm Bhushan Steel. Important facts: The proceeds from the acquisition will go towards settling almost two-thirds of the total outstanding liabilities that Bhushan Steel owes banks. In future, if&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/miles-to-go\/\">Continue reading <span class=\"screen-reader-text\">Miles to go<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[],"class_list":["post-29235","post","type-post","status-publish","format-standard","hentry","category-test-1","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704681458},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/29235","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=29235"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/29235\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=29235"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=29235"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=29235"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}