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Insolvency and Bankruptcy times must be strictly adhered to as inflation dents the value of many and assets in the long run, said HSBC India chief in a panel discussion at 14th mint Banking Annual Conclave.

Speaking on the current form of IBC and should there be any tweaks, Hitendra Dave, chief executive officer (CEO) of HSBC India said legal timelines must be finite and the reasons for which the deadlines get extended need to be looked into.

Lenders must also be given freedom to decide at whatever the value they wish to sell the stressed assets, Dave said.

Speaking on the same issue, SBI chief Dinesh Khara said there needs to be capacity building that need to happen at the IBC level, while adding that as far as law is concerned it is clearly stated as to the required steps that needed to be followed.

Subject specialists can also be brought in at the resolution level so that there is domain expertise during the process as opposed to resolution professionals.

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