Reform processes are “absolutely” required to deal with the impact of the Covid-19 crisis on lives & economy, Senior Advocate & Ex-Solicitor General Gopal Subramanium stressed during the webinar, speaking on the legal landscape for corporate finance in recoupment phase.
The Ex-Solicitor General said, “Reform processes are absolutely required & it needs government initiative like adequate investment in infrastructure, institutions, governance, education & health. There should be public spending & public-private partnership in these sectors".
Terming the Insolvency & Bankruptcy Code a game-changer for converting non-performing assets into performing assets, Subramanium said there is a need to amend the law to make it more effective & speedy. He suggested that cases under the code be decided by a three-member panel, comprising one judicial, & two domain, experts.
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