Letters: Not viable

After the recent changes in the law, even promoters with serious intent to revive their company will have to face the heat and let go of their business

With reference to “Nearly 70% of stressed SMEs face liquidation” (November 3O), SMEs, which contribute almost 40 per cent to our GDP, such a news is really alarming. We all know that the latest changes in the Insolvency and Bankruptcy code has literally removed promoters from the bidding process of stressed assets, and since these SMEs do not generally garner interest from third party, it would be really impossible to save these companies from liquidation now. After the recent changes in the law, even promoters with serious intent to revive their company will have to face the heat and let