What is the Insolvency & Bankruptcy Code, and why Modi govt's changes to it are bold | ep 216
ShekharGupta explains how the amendments will lead to genuine bankruptcies that will benefit banks, taxpayers, honest borrowers & India's capitalism, in episode 216 of #CutTheClutter.
Connect with ThePrint
» Subscribe to ThePrint : bit.ly/SubscribeToThePrint
» Like us on Facebook: / theprintindia
» Tweet us on Twitter: / theprintindia
» Follow us on Instagram: / theprintindia
» Find us on LinkedIn : / theprint
Пікірлер: 229
We count on good people to pay for good journalism. Please subscribe to ThePrint here: theprint.in/subscribe/ This includes the link for subscription from overseas too
@anderskristian6220
2 жыл бұрын
Sorry to be offtopic but does anyone know of a method to log back into an instagram account? I was dumb forgot my account password. I love any tricks you can give me
@jasonjonah6760
2 жыл бұрын
@Anders Kristian instablaster =)
@anderskristian6220
2 жыл бұрын
@Jason Jonah i really appreciate your reply. I found the site on google and im waiting for the hacking stuff now. I see it takes quite some time so I will reply here later when my account password hopefully is recovered.
@anderskristian6220
2 жыл бұрын
@Jason Jonah it did the trick and I now got access to my account again. Im so happy:D Thanks so much, you saved my account :D
@jasonjonah6760
2 жыл бұрын
@Anders Kristian Happy to help :)
Indians want a developed country like capitalists but don't want to follow capitalists model of economy. They believe in magic . Good video sir , liked your explanation
@deepakranjan4844
5 жыл бұрын
@sheldon pereira who told you that China is a capitalist country.. Kanhaia Kumar or Ndtv?? China follows rules of capitalist economy way way better than India - Which is choked by stupid and arrogant bureaucrats and judges of Nehruvian style economy.. We should be thankful to pv Narsimha Rao and man mohan Singh for little bit reform india has till date..
@saneshubham50
5 жыл бұрын
Chinese are much more capitalist then any country in the west they are even selling valuable organs of convicted felons to earn some quick cash on organs black market and most of those organs are sold in the west. Communist party of china wears a mask of communism so that it can keep its hold on China under one party Marxist-Leninist rule because if they showed it population that they are now capitalist then they will start demanding Democracy, free speech, open internet, labour and union reforms etc. Including single payer health care and free education etc like you see in some western countries. So China only wears the mask of communism to keep its grip on its population nothing else it's a proper capitalist country.
@vijayshankar4645
5 жыл бұрын
@sheldon pereira Were you hibernating..no commie country has stock exchanges..have you ever heard of Shanghai stock exchange ? It has a market cap of US$5.01 trillion! China has progressed because of capitalism.
@minimeguju6868
5 жыл бұрын
sheldon pereira yes but China is poor example of human rights and freedom. Bad example.
@dexter-sj5ii
5 жыл бұрын
@@minimeguju6868 China is capitalist
The Public of india think capitalists are drug dealers or invaders or mafias. They won't support them but yes we do want infrastructure. Delaying ,red tapism are what our image is in world market.
@amarjittalukdar1967
5 жыл бұрын
Fact that Indian capitalist are such is not entirely false.
@ravik007ggn
5 жыл бұрын
@sheldon pereira Capitalism works if people are not allowed to give a Fk. When they do, Singhur happens..
@sasidharankarthikeyan3798
5 жыл бұрын
Not every capitalists. We guys are culturally indoctrinated to revere the agricultural cronies. The loan waivers alone would be more even if we add up the amount of all the loans that went bad mentioned by Mr. Gupta. I've not included the waste of money in the name of government support like subsidized electricity, MSP etc.
@sasidharankarthikeyan3798
5 жыл бұрын
@sheldon pereira Chinese capitalim is state-monitered. It's not free. Every promoter should place a Chinese Communist Party member in his/her board.
@nagraj2k1
5 жыл бұрын
Most Indian capitalists are rentiers and cronies. Leaving aside the IT crowd and some innovative pharma companies. No wonder then that they’re the only companies that can compete in global markets. Every infra, mining, construction, steel, oil etc company is a rentier. Almost all the large Marwadi and baniya business groups you can think of won’t survive if exposed to global competition
Wow capitalism is seeing days light in India, so happy else I always assumed we will be doomed with socialism.
Good one sir! The best thing about this segment of yours that I like the most is that it covers almost every aspect of a particular topic in a very crisp manner. Thank you! Keep it up 👍.
@ThePrintIndia
5 жыл бұрын
Anurag Shukla Thank you very much indeed....SG
There is fallacy that Operational creditors do not matter - do not pay them anything substantially!! It is as if Banks do not lend to Persons who are Operational creditors. Banks do lend them. In such situations where operational creditors do not get enough, these accounts will also become NPA. Further, now knowing that being Operational credit is more risky, rational choice would be to Switch to Cash - and Carry and not to give credit anymore!! More so, MSME's are more likely to be operational creditors, despite making special provision for them in IBC, is practically Wiping them out under IBC!! Long live - Kill small to Fatten Big !!
A logical analysis. Good Gupta appreciates the move of the present govt at least once!
@ThePrintIndia
5 жыл бұрын
Narayan Iyer Thank you very much indeed...SG
It's really a treat for my eyes and ears when you speak like a journalist.. a real journalist. Suck on it NDTV ;-)
I love the format. More like conversation. Its educative and insightful.
@ThePrintIndia
5 жыл бұрын
Girish Yelka Thank you very much...SG
On a lighter note. He must have the strongest calf muscles in the business.
Being a layperson in the field of finance, found your talk illuminating and interesting !!👍
@ThePrintIndia
5 жыл бұрын
Vijai Moorthy I am a layperson in many fields too. I just have fine colleagues and I can pick their brains! Thanks for writing...SG
Wait till the "honourable" Supreme Court of India sticks it's nose in the process and again takes it to the point where it started. It's high time the collegium starts appointing judges who have expertise in the specific areas of litigation. The same judges preside over social, economic, constitutional and even religious matters. This makes the process messy and judgements often lack the foresight of their consequences.
@omduttdixit3433
5 жыл бұрын
Can not do that last time government tried to do that they refused.
@sudhirchopde3334
5 жыл бұрын
They pass judgements based on their nephews,sons in law in some related areas and living and working in the US.Whom they consult on WhatsApp after 10.pm. Prove me wrong,ha ha ha
Could understand a complex subject with ease. Your speech is so simple and short but with required details. Thanks Sir
Great piece of news coverage. And I am glad Shekhar Gupta did a decent, unbiased reporting on it. The IBC is the single most striking reform in the Indian Business ecosystem. It eases the playing field for newcomers. At the same time it sends a strong message to businessmen, "you can't take away taxpayer's money, be non - performing, and get away with it. You just won't be allowed to, anymore". This code will eventually give birth to a performance oriented economy.
@ThePrintIndia
5 жыл бұрын
Rohit Singh thank you very much...SG
Appreciate these videos keeping me informed on political economy developments in India. Keep vids like these coming.
Very informatie video!
great thought sir good interpretation of the law keep up the good work
Thank you so much! Helped Alot
fantastic. Explained like a teacher
SG I completely agree with you
Thank you for this!
Sir...good analysis.... really declutered IBC
It seems like that the old business families always tend to forget that the system stands supreme. And at its' convenience, the system can always game them back in a much worse way.
Very simple & lucid explanation Mr. Gupta!👍
@ThePrintIndia
5 жыл бұрын
Sachin Patil Thank you very much
Thoughtful lecture
Thanks for this cheers
Thank you sir
wow, thanks for sharing incredible information, apt title...d-clutter.. i enjoyed.
This is the kind of topic on which the public needs enlightenment. Thank you! As to political issues, most of us are equally wise in analyzing. We Indians are the best when it comes to analyzing politics. Corrupt bank officials are also the cause of bad loans. One wonders what is being done about them, apart from usual criminal proceeding, which is neither here nor there.
@ThePrintIndia
5 жыл бұрын
Gururaj BN Thank you very much indeed. And you are right. When I pick a non-political topic, it also helps me to learn more...SG
good explanation sir.... thanks
Awesome video sir
# Nice analysis. Simple language and good analysis.
@ThePrintIndia
5 жыл бұрын
Deba prasad thank you very much, SG..
Well said.
And everyone lived happily ever after? I don't think so. Surely, someone will file a case against the 60 days limit on judicial process, most probably A. Singhvi as a counsel. And our Honble Supreme Court will pass time with that for 6+ months and read down that section. In my opinion, unless there's judicial and constitutional reform, that make the judges accountable for their verdict, people would use the courts to game the system. Edit: And we over-revere these two.
@ThePrintIndia
5 жыл бұрын
Sasidharan Karthikeyan You have a point. But on IBC so far, the Supreme Court has been very very wise...SG
Actually very much to these kinda topics... But will look for more informative videos about economics.. simple and neat explanation 👍
Make it like the US - 1st dibs Tax Man (IRS) including including personal gains is taxable - otherwise Penalty and Jail Time. 2nd dibs - Lenders - Courts, 3rd dibs - Creditors e.g. suppliers and employees.
All on the shoulders of common people. Please do something about minority shareholders and mutual funds where also common public money invested. IBBC protects only lender's. SEBI and IEPF fails to protect common people.
1.5 x speed is perfect.just enough
@nitikshasharma9263
5 жыл бұрын
1.75x actually.🤪🤪
sir your point is too strong regarding our governance and economy but my request is that plz cover these issues in hindi because North India really need to know about these issues for awakening.
@Naveenkr7102
5 жыл бұрын
What about south india.
@rahultiwari8357
5 жыл бұрын
@@Naveenkr7102 sir meaning about North India is that they understand these complex issues in their own language Hindi so I requested to Sir that plz choose Hindi language also to tell about these complex issues.
@Naveenkr7102
5 жыл бұрын
@@rahultiwari8357 hmm. May be
@ThePrintIndia
5 жыл бұрын
rahul tiwari Excellent point. Thanks. I will start something similar in Hindi soon. Best wishes...SG
@rahultiwari8357
5 жыл бұрын
@@ThePrintIndia sir Hindi print and electronic both media is not giving actual data based or factual based information regarding governance, economy so we thank to you for providing such vital knowledge. sir plz keep it up and thanks for your time to see my comment.
Shekhar Sir please make a Video on NIA and RTI amendment bill.
IBC is probably the most important reform of the Modi government. I don't why there is not widespread discussion on its implementations and outcome. Next in pipeline should be Judiciary reforms. India cannot be afford to give it a blind eye. we need a fast and effective judiciary which the people can resort to and for business to look upto. Contract enforcement should be through Judiciary and not through hooliganism. Would to know The Prints thoughts on Judiciary Reform in India
@whocares8870
5 жыл бұрын
adneya hate ....very few people in our country can think bro... poor people take money and vote.... well off people vote to their own caste..not enough free spirited logical indians left..
@ThePrintIndia
5 жыл бұрын
adneya hate Excellent suggestion. Thanks. Will talk about the judiciary soon...SG
@sudhirchopde3334
5 жыл бұрын
How can you make enemies of the judiciary when a)all your chamchas are there b) they will expose your feet of clay if you awaken their slumber. You scratch my back ,I scratch yours!
So Sekhar modi do some good work too... thanks accepting that
Exactly.we don't understand capitalism and so leaders like kejriwal and pappu benefits from this ignorance ,they politicise bankruptcy,and take advantage ,this type of more videos ,specially local languages may create awareness .
Is it Business or Congress Party, Sonia, PC can keep funding Vadra, Kartik, Pranab Roy for funding real estate in Europe or Cape Town!!!
most of the bad loans were of time of MMS govt.. that putla PM did nothing to prevent this nor show any interest in recovery... #MMSWasSpineLess
Thanks. Truly a juicy video. PS The unsync hand movement gives me anxiety. No offence
@kaustubhdixit8184
5 жыл бұрын
Gadhe anxiety ka Matlab pata hai? -_-
@ghosstt
5 жыл бұрын
@@kaustubhdixit8184 Ha pta hai. Kyu kya hua?
@ThePrintIndia
5 жыл бұрын
Anand Vardhan Thank you...will try and synchronise my limbs!
@ghosstt
5 жыл бұрын
@@ThePrintIndia Haha. All in good humour sir. 🙈
@kaustubhdixit8184
5 жыл бұрын
@@ghosstt aaj kal ke 2-3 word kya seekh liye, bada cool ban raha hai 😂😂
sir sb bhut mast batayaa aaapne
The money defaulted by the Monnet Ispat shown was different [ Rs 22,075 crore] than what is read from the paper [12,115 crores]. Other than that, overall a very good analysis, and as suggested towards the end, hope we mature into a society where we get to see a good bankruptcy procedure and resolutions in a timely manner.
@ThePrintIndia
5 жыл бұрын
Noble Antony Thattil thanks a lot. I will check the Monet Ispat figure again.....SG
The Figures of Monnet Ispat are displayed wrong. It should be 12115 crores as stated by SG Sir. Thank You Editing team.
This episode clearly negates what he say about nationalisation of banks. Essentially we have, the capitalists in glove with politicians pressured banks to finance these business groups. We r adept in putting in systems and processes, to meet our selfish ends. As an old friend of mine used to say AN INDIVIDUAL IS WISE AND COLLECTIVELY THEY LOOSE WISDOM. SEKHARGUPTA GENERATION OF PEOPLE FOR THEIR SELFISH INTERESTS INTERPRET BAD AS GOOD And gain POLITICAL FAVOURS, proving my friend’S earlier statement holds more good today...
What about minority shareholders and mutual funds which also public money ? What kinds of job's SEBI and IEPF is doing to protect minorities ?
And the clutter is cut! Beautiful analytical journalism.
@ThePrintIndia
5 жыл бұрын
Thank you.
@ThePrintIndia
5 жыл бұрын
অশনি দাশগুপ্ত thank you very much indeed ...SG
Businesses and bank follow capitalistic model when they have money and lean on socialism when they go broke. Its a prevelige.
I love you too much sir... I don't have enough money to subscribe your channel.. One day I shall buy subscription.
There's no doubting that Bankers are in cahoots with the promoters. PSU bankers must be punished.
This presentation is quite good and useful because it has lots to lego-academic points. Good one
@ThePrintIndia
5 жыл бұрын
Ranganathan S Thank you very much...your feedback is valuable, always....SG
If the original promoter can bid to buy back the company he declared bankrupt; won't that mean he can potentially use it as a means to reduce his liabilities through such a process
@ThePrintIndia
5 жыл бұрын
smoothoprk it is because of this apprehension that the law was amended....SG
Good analysis but could you please clarify what is the current provison for employee dues in the current process. As in aviation sector the regulations don't allow certain employees to quit without either consent of the employer or a long notice period.
Sir ..You often talk big ...But there are a lot of things other than politics..I don't remember you doing a show on health.. Education ... Frequently...The latest is the NMC Bill.. It's request to declutter it.
So it means the government brought IBC to ease the bankruptcy and insolvency procedure, but the companies by going to courts making the process even more complicated, right?
Very well explained for the common man
@ThePrintIndia
5 жыл бұрын
Thank you.
Calling in Bankrupt is to avoid jail,where each of one of these "failures" really need be. Nice cover up. What about the poor shareholder in those bankrupt Cos or its "bankrupted " employees!
Big boys 😂😂barkha DUTT offended 😂😂
He talks about it now, after elections, before elections, he didn't feel like taking about the Bankruptcy Code.
Mr. Shekhar Gupta , It will be most appropriate if you bring out a video talk on unconstitutional, racist and casteist recruitment going on in indian army that debarrs 70 percent indians for recruitment because of their caste..region and religion. I can provide you all proofs ,records in writing. Eve army has accepted it in writing.
Good
Sir I have video suggestion... In one of video, you told about Adi Godrej , who said the government policies. Since BJP and early Congress have maximum cooperate donations, where these fund are coming? Is it Indian or foreign business!?
@ThePrintIndia
5 жыл бұрын
Shashank Kumar Srivastava Indian businesses. Foreign businesses can;t make political donations..SG
@shashankk.4166
5 жыл бұрын
@@ThePrintIndia then why Indian business are financing political parties?
"Gaming the system" isn't this the fabled indian "jugad"?
I am the second person to view your Video. Wait it eagerly every evening.
@Garrry
5 жыл бұрын
Lol! You got nothing better than waiting for COUPTA?
@bugged1212
5 жыл бұрын
LOL, for real, makes sense you are a bong!
@ThePrintIndia
5 жыл бұрын
Dhritiman Chakravorty thank you very much. Your support is invaluable...SG
@adityakothiyal3
3 жыл бұрын
What about reliance anil ambani,nirav modi jewellery business and Kingfisher malya these are not in top 12 defaulter how ?? Can somebody answer
Good Job Shekar Gupta ji this is amazing
@ThePrintIndia
5 жыл бұрын
Thank you very much...SG
@Swamysurya141
5 жыл бұрын
Sorry sir ...I am thrilled to see your response
Sir IBC has been changed can you help us understand New norms now.
So they changed it from the quint to print ...
Sir Either remove Subtitles or correct them. they are funny. Sr case NCL 80 Insolvency and bankruptcy court how this passed editorial supervision?
@kingspammernerd
5 жыл бұрын
They didn't upload subtitles, they are auto generated.
@ThePrintIndia
5 жыл бұрын
Lalit Sharma thanks for pointing out. Will get it checked and corrected...Sg
Respected sir, SEBI is allowing trading 6 months without notice to shareholders after resolution plan approved as wipeoff. Is it acceptable?
Here in uk it’s called “company has gone in to administration “. Here is full definition www.companyrescue.co.uk/guides-knowledge/what-is/what-is-administration/
How come Jet airways 15000 crores was left out?
@ThePrintIndia
5 жыл бұрын
Anthikad John Jet Airways has been referred to NCLT also. It has set Aug 3 as the last date for filing bids...SG
Mr. Shekhar Gupta, you are a seasoned politician. How did you enter journalism field which is supposed to be unbiased. You have now started talking good things about BJP after it came to power. IBC was introduced 3 years ago but you never thought it was a great reform then?
This is a good video.
@ThePrintIndia
5 жыл бұрын
Thank you.
But why videocon and jet Airways was not allowed to take back there company, when they said they will pay after the haircut.
Boss , what about other 75% loan defaulters...Have guts to say all the names..Ambani...
First and foremost congratulations for being true to journalism and showing both the positive and negative side of this government unlike most others, for whom everything this govt does is for betterment of the country and for still some others, for whom everything that this govt does is scandalous. Coming to the ESSAR steel, its not that its promoters have suddenly got 45,000 crores to pay and pull out of NCLT bid but from what i understand the steel conglomerate of india have come together and are financing the Ruai brothers in a bid to stall Mittal's from entering into India and that is not good for having a competitive market. Since NCLT is still in its infancy period, these people with the help of experienced advocates keep finding some loopholes in rule book and are exploiting it to drag the case for long to exasperate Mittals from taking over Essar and thus force them to give up on it. On the other hand these same steel conglomerates have used NCLT to gobble up other downed and out industries at good price. I am glad that this government has taken a cognizance of the cunning nature and foul games being played by some party and have come up with better plans to resolve the bankruptcy. To me IBC is the biggest achievement of this current government and it should not allow certain business-houses to bungle it up for their own gain.
@ThePrintIndia
5 жыл бұрын
Avinash Kumar Thank you very much. But now the law is amended so the Ruias cant bid for Essar steel
Loan defaulting and bankruptsy are two different things. Rich people dafault on loans and go on holiday in France and Caribbean . Thats not bankrupts. Thats called stealing. In ALL developing and third world countries this is a major problem. Capital outflow to foreign shores impoverishes the entire nation while few rich people enjoy their wealth. I think Shekhar G gets funded by one of those defaulters. LOL
Income tax notice 148A, d se kaise chutkara milega bina kisi accounting documents ke kyuki mere paas kuch bhi nahi hai because mujh par police case 420 in gst lage the mere sare documents misplaced hai or na hi koi assest bachi hai kya kare please suggest (Proprietar)
As they one rotten Apple spoils the entire bunch.
Shekhar Gupta tuhare jaisa Gyani to iss dharti par nahi hai.kuchh tiranga TV ke bare me bologe?
finally i understand ibc law.
@ThePrintIndia
5 жыл бұрын
Thank you...the idea is to de-clutter! ...SG
Surprised all these things are not in order over decades.U need a good government to take bold decisions to change for better.
What about reliance anil ambani,nirav modi jewellery business and Kingfisher malya these are not in top 12 defaulter how ?? Can somebody answer
If Print says it is good, then it is good. This is the only news channel that can be trusted nowadays.
@abhijnankhamrui7514
5 жыл бұрын
Don't be to confident everyone comes with a price tag..It's reality..
@ThePrintIndia
5 жыл бұрын
Thank you. Please keep watching ThePrint's KZread channel.
@achintyanaithani889
5 жыл бұрын
@@abhijnankhamrui7514 what price are you suggesting?
@ThePrintIndia
5 жыл бұрын
Achintya Naithani thank you...that is a very high standard you’ve set for us. We will try living up to it...SG
@achintyanaithani889
5 жыл бұрын
...did I just get a reply from SG himself? Now that's something to talk about.
Old capitalistic model has to go for good
Namo is great!
This list was published in 2017 but you discussing on it now how you were biased that time
GRADUALLY MODI GOVT STARTED DELIVERING GOOD ACTIONS IN ALMOST EVERY SECTOR.
@whocares8870
5 жыл бұрын
ASHOK KUMAR BHATTACHARYA ...yes...getting rid of air india and bsnl in next 2 years...drdo producing rafeal like jet engine in next 5 years....would really put india in good future...
Why does he jumps while talking? It looks so funny😂
*Arun Jaitley* 🙄🙄
Please GOOGLE 98.6 QURAN! PLEASE PLEASE PLEASE PLEASE PLEASE!
Kuch nahi bas syllabus badha rahe ho ab tum CA bacho kaa
Ganje they went through high court and then to supreme court
Why are you speachless about Karnataka speaker not taking up confidence vote and his delaying tactics. You are still Congress pitto.
@ThePrintIndia
5 жыл бұрын
ajit desai I spoke about Karnataka I h a full CTC a couple of days back. Pls do check it out...SG
What about Barkha Dutt. Karan Thapar & Kapil Sibal ?????