An expert committee, led by TK Viswanathan, has recommended mediation between lenders and borrowers at the pre-default stage for faster out-of-court resolutions. It proposes a phased introduction of voluntary mediation as a dispute resolution mechanism. The report addresses the issues of insolvency cases exceeding the time frame, erosion of impaired assets, and haircuts by creditors.
from Banking/Finance-Industry-Economic Times https://ift.tt/EicP0Ux
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