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SBI seeks rational recovery level in IBC process
Resolution primary objective of IBC, but need to be mindful of recovery too: SBI MD J Swaminathan
image for illustrative purpose
Mumbai: The primary objective of the Insolvency and Bankruptcy Code (IBC) process is resolution of a distressed firm, but the recovery percentage also needs to be kept in mind, SBI Managing Director J Swaminathan said on Sunday.
Financial and operational creditors owe money to companies facing insolvency proceedings and so recovery has to be an important factor while achieving resolution of stressed assets, he noted. "All of us clearly understand, as the lenders' forum, that resolution is the primary objective of legislation like IBC. So, I don't think that there is any moving away from that particular point.
