tag:blogger.com,1999:blog-5043138489010794057.post5675882478436501110..comments2024-03-27T15:57:09.192+05:30Comments on Urbanomics: Gaming the rules - the case of India's Bankruptcy CodeUrbanomicshttp://www.blogger.com/profile/16956198290294771298noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-5043138489010794057.post-55372705755070074562017-11-22T04:57:40.196+05:302017-11-22T04:57:40.196+05:30You are right when you say that "these playbo...You are right when you say that "these playbooks are pretty well known". However, these rules can't just be lifted from a foreign jurisdiction and fitted into the Indian context. It requires tons of hard work to figure out how to connect these new rules with the rest of the Indian legal system so that they have the intended effect. If you look at US, there is an army of legal academics and researchers who work on drafting restatements and model laws. The skill sets required to do this job is very different from the contract drafting skills of private law firms and practicing lawyers. The Indian government and regulators need to realise this and invest in developing these skill-sets within Indian legal academic/research institutions. Outsourcing regulation drafting to private firms is not a long term solution! Pratik Dattanoreply@blogger.comtag:blogger.com,1999:blog-5043138489010794057.post-33721575711945013082017-09-21T21:38:32.463+05:302017-09-21T21:38:32.463+05:30This is all too complicated and hence open to subv...This is all too complicated and hence open to subversion. Why not just recover overdue money by seizing promoter assets? After all they mostly provide personal guarantees for loans...Dipenhttps://www.blogger.com/profile/14115553500662077856noreply@blogger.com