The Supreme Court’s (SC) judgement quashing RBI’s 12th February circular has come as a bolt from the blue. The circular was aimed at early recognition and resolution of stressed assets and making the Insolvency and Bankruptcy Code, 2016 (IBC) pivotal in the entire framework. <br /> <br />Post the February 12 circular, all pre-existing categorization of standard stressed assets –SDR, S4A, CDR restructuring stood abolished, leaving IBC as the only resolution mechanism. <br /> <br />Sakshi Batra does a 3 point analysis to understand the impact of the SC judgement.
