This is a huge test and could be a big success for the Modi government. To successfully revive a business, rather than dissolve it, is an achievement worth bragging about.
https://www.business-standard.com/article/companies/light-at-the-end-of-the-tunnel-jet-airways-staff-after-nod-to-revival-plan-120101800261_1.html
The ball is now in the government's court. The government has to facilitate regulatory approval rather than create bureaucratic hurdles. At stake are over ₹1,000 crores owed to employees, and much more to vendors. Let's see if Modi can walk the "ease of doing business" talk.
This is a pre-Covid insolvency. If this sets the trend for the IBC, then a lot of businesses that go under due to Covid could be revived rather than dissolved, saving jobs and assets.
https://www.business-standard.com/article/companies/light-at-the-end-of-the-tunnel-jet-airways-staff-after-nod-to-revival-plan-120101800261_1.html
The ball is now in the government's court. The government has to facilitate regulatory approval rather than create bureaucratic hurdles. At stake are over ₹1,000 crores owed to employees, and much more to vendors. Let's see if Modi can walk the "ease of doing business" talk.
This is a pre-Covid insolvency. If this sets the trend for the IBC, then a lot of businesses that go under due to Covid could be revived rather than dissolved, saving jobs and assets.