These measures confer additional recovery avenues for the benefit of debenture holders. Other Legislative Changes Legislative changes have also attempted to improve the investment horizon in asset reconstruction companies (ARCs). The restriction which existed on a holding company sponsoring an ARC has since been removed. The sponsors of ARCs are now required to be only fit and proper as per RBI guidelines.
At the end of the day, Europe can only work if all of us move in the same direction. Only together can France and Germany act as the driving forces of European integration. And only together can France and Germany help to solve the current crisis. The positive developments I highlighted in my speech show the payoffs of staying on the path of reform.