外文文献翻译企业债务重组研究.doc

毕设附件外文文献原文及译文
文献出处
作者: Martin G
期刊: Economic Analysis , 2016,第3卷,第5期,pp:31-41

原文
The research of corporate debt restructuring
作者:Martin G
I. INTRODUCTION
The global financial crisis that paved its way into India in 2008 and 2009 shattered the financial health of panies affected by a tightening of credit and weaker consumer demand. The non-performing assets (‘NPAs’) for banks were on the rise. The cases filed in the corporate debt restructuring cell (‘CDR Cell’) increased at a rapid pace. By the end of March 2009, thirty-four cases were filed with the CDR Cell as against the 10 filed at the end of the previous year. These cases were mainly from the textile and steel sectors that suffered highly because of a lag in exports. It went to show panies were unable to deal with the high level of debt they had accumulated over time and such cases were an inevitable result of the same.
Fortunately the Reserve Bank already had a mechanism in place and that too easily accessible, whatever the effectiveness of it, for handling such a crisis. It was way early in 2001 that the Reserve Bank had developed or rather adopted guidelines for debt restructuring by corporate entities and the same were revised twice subsequently to e the insufficiency of the insolvency laws to address debt distress.
Therefore, when it occurred to panies that their debt structure was in a predicam