INSUBCONTINENT EXCLUSIVE:
Arun Jaitley said economy is growing faster than some of its contemporaries.Bankrupt companies offer a never-before opportunity to the
global investors to ride the country's exceptional growth trajectory, thanks to the Insolvency and Bankruptcy Code (IBC), Finance Minister
Arun Jaitley said."Given the future potential of the economy and the fair process followed under the Code, it is a great opportunity for
investors who are seriously thinking about investing in the country," he said through a video conference at an event in New York.Jaitley
said economy is growing faster than some of its contemporaries amongst the emerging economies and it is likely to maintain this high growth
rate of at least 7-8 per cent over the next decade, the Finance Ministry said in a statement on Friday.He was addressing fund houses and law
firms at a conference on "Insolvency and Bankruptcy Code - A New Paradigm for Stressed Assets", hosted by the Insolvency and Bankruptcy
Board of India (IBBI) and the Consulate General of India, New York, USA on Wednesday."There can't be a better opportunity than the present
one which is being offered through the Code
available for takeover is extremely large.Prior to the IBC, he said the scattered regime had impacted the domestic private investment with
over capacities in certain sectors coupled with "unacceptably high" levels of non-performing assets in the banking system, hindering
growth.Jaitley said the government not only enacted the Code expeditiously but is also implementing it at an unprecedented pace
Despite the initial teething troubles, which the government is addressing, the outcome has been better than anticipated."The only downside
has been that in some of the cases because of appeals and counter-appeals and litigations, the process has got somewhat delayed
But then the Supreme Court has stood up to the occasion," he said.The participants were keen to understand the process certainty, time
certainty and outcome certaintyFor the latest News Live Updates on Election Results from each assembly constituency in Madhya Pradesh,
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