Insolvency professionals face a reckoning

The Insolvency and Bankruptcy Board of India has, in recent months, stepped up action against alleged misconduct and corruption.

“Bankers told me he is shady. It’s not just one case, but even in other cases he handled there are problems. Conflict of interest is a big issue that has not been addressed,” says an insolvency professional, asking not to be named. He is talking about a rival professional who was suspended by the Insolvency and Bankruptcy Board of India, or IBBI, in May this year. 

At its peak in March 2018, around 11.5% of all bank loans were in default, amounting to Rs 10.4 lakh crore. That figure stands at 5.9% or a little over Rs 7 lakh crore …

Author

Advait Palepu

Advait is a financial journalist and a former writer at The Morning Context. Here, he wrote on India’s banks, the wider financial services industry and the fintech ecosystem. He has previously worked with the Economic and Political Weekly, Business Standard, BloombergQuint and MediaNama, where he covered everything from the Reserve Bank of India to fintech policy.

Writer

advait@mailtmc.com

Mumbai