Photo of Misha Patel

Associate in the Insolvency Practice at the Mumbai office of Cyril Amarchand Mangaldas. She can be reached at misha.patel@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]


Continue Reading Overhaul of the ARC Framework – Need of the hour