IBC may need tweaks in provisions to iron out operational issues: Experts

Experts point out that the law prescribes criminal prosecution of such bidders but the company will be liquidated if a resolution plan fails

A slew of petitions from a clutch of aggrieved operational creditors is currently before the Supreme Court. Arguments for and against the RBI circular that pushed several power companies into the insolvency process are being heard by the apex court. Questions are also being raised on how to maintain the legal sanctity of the bidding process, while at the same time maximise value for lenders. 

Two years after coming into force, the Insolvency and Bankruptcy Code may need some tweaks in its provisions to iron out operational issues, say experts. In the past, the legislature has taken a cue from