There is a section under the Insolvency and Bankruptcy Code (IBC), specifically meant to keep out such promoters, the Deputy Governor said at the conference on governance in ARCs held early this month, the full version of which was published by RBI on Friday.
In a speech at the Conference of ARCs, the Deputy Governor said, “Effective functioning of the Board requires several elements, including competent leadership, committed directors with diverse expertise, independence, clarity in roles and responsibilities, and diligence.
Following the US pullout from Afghanistan last August, Washington has imposed sanctions on the Taliban-run administration and frozen more than $9 billion assets
The Reserve Bank of India (RBI) has raised the capital requirement for asset reconstruction companies (ARCs) to Rs 100 crore,…
