A few big debt-laden companies made news this week in the stressed assets segment while the government got parliamentary approval to make changes in the Insolvency and Bankruptcy Code.
The amendments, the third time since the law was enacted in 2016, include giving an additional 60 days for insolvency resolution and empowering financial creditors to decide on the distribution of claims.
In other related news, grounded carrier Jet Airways has seen interest from four potential bidders and its lenders have extended the deadline to submit expressions of interest to Saturday.
Another long drawn-out case in the news this week was Jaypee Infratech Ltd, with an appellate tribunal granting 90 more days for fresh bids for the developer.
Tune in to this podcast from VCCircle's Beena Parmar and Narinder Kapur to find out what else made headlines in the stressed assets segment this week.
