Fix the ABC of IBC: Why we should re-engineer the bankruptcy code further

The recent litigation around Jaypee has once again unleashed a raging debate over arbitrary decision-making by financial creditors, lack of transparency, subjective selection criteria for cherry-picking a winning bid as well as the possible conflict of interest of the committee of creditors. After a decade of IBC, it’s time to empower the resolution professional and make bidding simple and transparent.