The Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Bill, 2011

The Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Bill, 2011, was passed by the Lok Sabha yesterday. Lok Sabha also approved the changes to the Bill saying that these changes will expedite the resolution of non-performing loans. With the help of the amended law, the lenders will be able to fully or partially convert their loan to a stressed entity into equity.