The Live Nagpur
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Crime
  • Entertainment & Lifestyle
  • Featured
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary

The Live Nagpur

  • Home
  • Nagpur City
  • Politics
  • Business
  • Nagpur Education
  • Entertainment
  • Nagpur Sports
  • Health
  • Vidarbha
  • Crime
  • Obituary
Business

Chartered Accountants play a Vital role in Effective NPA Resolution through IBC & ARC – Mr. Manoj Kare, DGM, Bank of Maharashtra 

by TLN Team January 7, 2020January 7, 2020
written by TLN Team January 7, 2020January 7, 2020
Chartered Accountants play a Vital role in Effective NPA Resolution through IBC & ARC – Mr. Manoj Kare, DGM, Bank of Maharashtra 

“Insolvency and Bankruptcy Code (IBC) has given creditors and bankers a big say. The IBC through Chartered Accountant Professionals duly aims at early corporate debt resolution and value maximization of the assets of the Bank. However, gaps in the IBC ecosystem and infrastructure bottlenecks have slowed the process” remarked Mr. Manoj Kare, Dy. General Manager, Bank of Maharashtra, Nagpur.

Mr. Manoj Kare, speaking as Chief Guest on the occasion, was gracing the Seminar on ARC and IBC, organized by the Nagpur Branch of the Institute of Chartered Accountants of India. He stated that Stressed Assets have been rising rapidly in India, mainly in public sector banks. The reason includes global slowdown, governance-related issues, economic factors as well as ill intentions and misconduct, on the part of the borrowers in a few cases. There is a need to take this opportunity to undertake extensive research into the factors which have led to deteriorating assets quality in public sector banks, he added.

He further conveyed that ARCs being the specialized agencies, generally have NPA resolution as the core activity. Because of this, the Banks can concentrate on normal banking operations rather than dealing with sticky assets. He added words of wisdom to his deliberation, by conveying in crystal clear terms about the expectations from Chartered Accountants in the field of Asset Reconstruction Services.

He remarked that, Chartered Accountants are expected to study the factual facts on the part of bankers and borrowers, on case to case basis. This will ensure to have best possible recovery in stressed accounts and role of CAs in the process, will prove to be a real win-win for all concerned. He concluded his words by wishing all the very best in the endeavours of the Nagpur Branch of ICAI.

CA Mahesh Rathi, Past Chairman of Nagpur branch was the Guest of Honor on this occasion. He effectively elaborated on the provisions of IBC & ARC by chairing the Technical Session. He congratulated the Nagpur Branch for the untiring efforts being taken for the sake of CA Members, by organizing useful seminars and programs, at right junctures. He appealed the members present to gear up for the big professional opportunity in the field of serving the struggling banks, in the matter of recoveries in stressed assets. ARC and IBC, have opened doors of opportunities for CA Members in the field and expects to serve the cause, in the best possible professional manner, so as to help the banks on one hand and borrowers on the other.

“Banking is the buzz word for today remarked CA. Suren Duragkar, Chairman of Nagpur Branch. With rising levels of NPA’s position, the Banking system has been in focus. To revamp NPA Situation and to provide solution for these stressed assets, concept of ARC & IBC holds significance. he added. CA Suren Duragkar, stated that “Someone’s trash is a treasure for someone else” – With the mind-boggling size of NPA’s that the Banking system has in its kitty, the work of curing the defect has garnered immense importance. He shared that Nagpur Branch has been working on the theme of updating members on the new avenues available and this area of asset reconstruction & NPA resolution can be a good field to work upon for years to come.

CA Dipen Mehta from Mumbai guided the audience present with respect to the provisions and practical situations governing the crucial area of NPA Management including vital aspects such as sales of stressed assets to Assets Reconstruction Company. CA Atul Rajwadkar, from Nagpur, shared his knowledge in the fields of Insolvency and Bankruptcy Code. The code aims to protect the interests of small investors and make the process of doing business less cumbersome. Professional Opportunities need to be explored, as the Indian Economy sincerely needs effective recoveries from defaulting bank borrowers, he added. Responsibilities and threats involved, also need to be duly taken care of, he appealed.

Speakers on the occasion, effectively resolved the queries of members in the Question-Answer session. CA Jiten Saglani, Treasurer coordinated the event, which proved very beneficial for the 130 CA members present on the occasion. Vote of Thanks was proposed by CA Saket Bagdia, Secretary.

Prominently present on the occasion were CA Kirit Kalyani, Vice Chairman, CA Akshay Gulhane, Executive Committee Member, CA Harish Rangwani, Executive Committee Member and more than 130 CA members.

0 comment
FacebookTwitterLinkedin
TLN Team

previous post
Bicycle Diaries of This Family of Four…
next post
With Sankranti to complete the solar cycle, people prepare to welcome the longer days

You may also like

“Optimized & Effective Budget Planning for Marketing” on...

April 20, 2021

Two-wheeler markets affected more during second wave of...

April 20, 2021

Dalal Street- Investors lost Rs 5.27 lakh cr...

April 19, 2021

Handholding support & Relief measures required for traders...

April 19, 2021

VIA organize interactive session for “Entrepreneurs & Business...

April 17, 2021

VIA LEW organise sessions on “Health Management during...

April 17, 2021

Coordination between Industry and Local administration to fight...

April 15, 2021

Provide financial aid to traders, NVCC to govt

April 15, 2021

Govt should announce financial relief package for trade...

April 14, 2021

If situation is going out of hands, then...

April 14, 2021

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Trending News

  • COVID-19 scare: NTA postpones UGC NET Dec 2020, May 2021 exams

    April 20, 2021
  • CISCE cancels ICSE class 10 exams amid COVID surge

    April 20, 2021
  • People above 18 know how to register for Vaccination

    April 19, 2021
  • UPSC postpones civil services examination, EPFO exam

    April 19, 2021
  • Haffkine gets permission to produce covaxin

    April 16, 2021

Important Links

  • Politics
  • Crime
  • Business
  • Education
  • Entertainment
  • Sports

Available on Playstore & Coming Soon on Appstore

Search

January 2020
M T W T F S S
« Dec   Feb »
 12345
6789101112
13141516171819
20212223242526
2728293031  

Sign-Up Form

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

Footer Logo
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Crime
  • Entertainment & Lifestyle
  • Featured
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary
  • Privacy Policy
  • Disclaimer
  • Cookie Policy
  • Terms Of Use
  • Advertise with Us
  • Work with us
  • Contact Us

© 2020 - The Live Nagpur . All Rights Reserved.