Crisil Says Bankruptcy Law May Need More Tweaks: India Credit

India’s nine-year-old Insolvency and Bankruptcy Code may need changes, as delayed resolution of cases continues to be a worry, according to Crisil Ratings, a local unit of S&P Global.

• The backlog of cases has stretched resolution timelines beyond what is permitted by the regulation, Crisil said in a report Tuesday
  • As of last fiscal year, cases on average took 713 days to reach a resolution, more than double the prescribed 330 days
• The code overhauled India’s century-old laws as the government in 2016 sought to wipe out bad loans and boost growth in the South Asian economy. India has since ...