Also, the enactment of the Insolvency and Bankruptcy Code, 2016 (IBC) is a watershed towards improving the credit culture in our country. The IBC provides for a single window, time-bound process for resolution of assets with an explicit emphasis on promotion of entrepreneurship, maximisation of value of assets, and balancing the interests of all stakeholders.
to induce transparency in the books of SCs / RCs. Norms for calculation of management fee has also been rationalised. Management fee will now have to be based on the net asset value of the SRs rather than the outstanding SRs issued 24.