The 6th Annual Banking and Finance Legal Summit 2019

As per a recently issued report by CRISIL, “under the Corporate Insolvency Resolution Process (CIRP), a resolution plan for 94 stressed assets was approved by the NCLT. For this set of 94 accounts, resolution has been reached for ` 75,000 crore out of `1,75,000 crore total claim of financial creditors admitted. That makes for a respectable recovery rate of 43%.”

While there have been debates and discussions around how far as India been able to recover from the NPA mess that it had been for quite a long time, one has to really look at both the hits and misses that this journey has been about. On one hand while the code is itself looking at a strengthening by means of regular amendments, unlearning sensitivities involved, the NBFC sector is also keen to take all the proactive steps in order to refrain from any dark clouds glooming in. And then we have the tech talks where clouds, robotics and AI take over all the leaps and bring in a galore of innovation to consumer experience that BFSI domain has been willing to experiment with, but what cannot be ruled out are the legal and regulatory complications that one needs to address to.

It was in this context, The Lex Witness 6th Annual Edition of The Banking & Finance Legal Summit 2019 scheduled on 12th July at Four Seasons Hotel, Mumbai brought together legal vanguards of the Indian BFSI Sector as speakers addressing an array of topics via panel discussions.