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Insolvency crisis: 2500 bankruptcy cases, but where are the judges?

A streamlined bankruptcy process is crucial for Prime Minister Narendra Modi's attempts to come to grips with a simmering banking crisis that's sucking the energy out of India's economy

NCLT, IBC
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Illustration: Binay Sinha

Upmanyu Trivedi and Anto Antony | Bloomberg
India’s revamped bankruptcy process is in full swing and investors from Blackstone Group LP to Oaktree Capital Group LLC are salivating over an estimated $210 billion of stressed assets that are up for grabs. But the courtrooms handling the thousands of bankruptcies are lacking a key component: Judges.

Ten benches with a combined 26 judges and technical staff are hearing more than 2,500 insolvency cases, the latest official data show. Based on the workload a year ago, researchers estimated India needs about 80 benches over five years. That estimate is starting to look conservative, as tighter rules introduced by the banking

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