Bankruptcy

Lack of Awareness of IBC Hindrance to Resolution

The job of an insolvency resolution professional (IRP) is not all about exercising power just because he or she is empowered, said Ashish Chhawchharia, Partner­ restructuring services, Grant Thornton Advisory, which is now engaged in supporting ongoing insolvency proceedings at many firms including two of the large dirty dozen cases -Alok Industries and Monnet Ispat. You don't need to be too friendly or strictly formal. There is a humane side to it as you need to understand why people, whose salaries are not paid, are agitating, he added.

This article appeared in Economic Times on 27th September, 2017.