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Lack of Awareness of IBC Hindrance to Resolution

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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.