Article By Sri Abir Roy, Seetharaman & Associations in Financial Express on 6/9/2018
Let me Congratulate Sri Abir for deep insights for IBC & other legal provision.
Let me inform, India has got 5cr MSME Units, growing at 12 to 15% year on year. Now the author is talking about MSME whose money gets blocked in corporate cases referred to NCLT.
But 78000 cr are blocked in all MSME sick units but at least 1cr jobs are at stake and as I am working for the revival of sick units for last 36 months, I found middle and lower management in banks are always in fear of 3C and delay decision making thus harming MSME’s fate.
Even some financial innovations like what we are doing, in our limited way, where we need time to increase operational efficiency by removing bottlenecks, they keep the entrepreneur on tenterhooks and use the law to block DRT and high courts.
Can their attitude be changed?
Let me inform that advances in MSME are generally 150 to 200% secure
……………Happy Ganesh Chaturthi……………