Finally there seems to be some light at the end of the tunnel for resolving the Rs 8 lakh crore troubled assets and debt. 222 insolvency proceedings are on in the various National Company Law Tribunals (NCLTs). There are several challenges and pitfalls ahead for Insolvency and Bankruptcy Code (IBC) to work in its true spirit. CNBC-TV18's Manisha Natarajan spoke with Abizer Diwanji Partner & National Leader Financial & Restructuring Services, EY India and Sumant Batra Insolvency Lawyer to find what the challenges are and how best insolvency professionals are geared to resolve them.
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