Bad loans resolution will help save companies: FM Jaitley
Finance Minister Arun Jaitley said the objective of bad loans resolution is not to liquidate businesses, but to save them. Explaining the reason behind the new bankruptcy code, Jaitley said this was necessitated due to debt recovery tribunals' failure. The old regime, by which creditors would get tired chasing debtors and end up recovering nothing, is now over, he added.