Photo of Abhishek Mukherjee

Of Counsel in the Projects and Project Finance Team at the Mumbai office of Cyril Amarchand Mangaldas. Abhishek advises leading banks and financial institutions as well as corporate groups on aspects of debt restructuring, security enforcement, infrastructure projects, structured financing, loan recovery, and insolvency matters. Abhishek is also a member of the Insolvency and Bankruptcy Practice of the Firm. He can be reached at abhishek.mukherjee@cyrilshroff.com

Overhaul of the ARC Framework – Need of the hour

In continuance of various measures to resolve the pile of non-performing assets (NPAs) in the financial sector, the Reserve Bank of India (RBI) has now turned its focus on the role and framework of Asset Reconstruction Companies (ARCs) in being an important part of the solution. Even though the ARCs were in the game since enactment of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (“SARFAESI”), their performance has been sub-optimal and the recovery percentage abysmally low.[1]


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