Why India's nine-year-old insolvency law has bankers going bald with worry

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Why India's nine-year-old insolvency law has bankers going bald with worry - Business Standard

Quick Summary:

Capital is a highly scarce resource in a fast-growing, labor-surplus nation, and its allocation — to productive businesses, or zombie firms — a busy intersection of economic might and political power.

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The code, even when it wasn’t terribly successful in preventing unnecessary liquidation (such as of airlines), or in maximizing recoveries for creditors, at least put a limit on bad behavior.