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What Videocon, RCom And IL&FS Need Most - Group Insolvencies
Cases have highlighted a major gap in IBC. Is it time to introduce a group insolvency framework?
26 Apr 2019, 04:40 PM IST
Videocon Industries Ltd., Reliance Communications Ltd., and IL&FS—three large groups, two common problems: too much debt and no group insolvency framework to resolve it.For instance, Infrastructure Leasing & Financial Services Ltd., a systemically important core investment NBFC parents over 169 group companies, of which 24 are direct subsidiaries and the rest indirect subsidiaries or joint ventures. Six of these contribute over 60 pe...
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