Bloomberg Businessweek

India’s Push to Fast-Track Bankruptcies

Under a new code, cases must be resolved in nine months instead of the typical four years or more
An Essar iron plant in Hazira, Gujarat

On the third floor of a government complex in New Delhi, the National Company Law Tribunal’s appeals court is crammed with lawyers wearing formal black suits and white neckbands that hark back to the British Raj. Two judges have just been seated by ushers in white-and-gold turbans. The lawyers start arguing. “Everyone knows who his real client is!” one yells, as the crush of surrounding advocates lean in to hear what’s going on.

It might not be immediately apparent, but here

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