中英文外文文献翻译企业债务重组研究.doc

本科毕业设计（论文） 中英文对照翻译 (此文档为word格式,下载后您可任意修改编辑!) 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 the companies 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 that companies 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 overcome the insufficiency of the insolvency laws to address debt distress. Therefore, when it occurred to the companies that their debt structure was in a predicament, the Reserve Bank early move had put in place a mechanism that these distressed companies could look forward to in order to avoid a liquidation since their current situation was but a reaction to the global financial crisis. The various facets of this mechanism need to be understood to appreciate the debt restructuring of corporate in India. II. CORPORATE DEBT RESTRUCTURING: A GLANCE It was in light of this that the Reserve Bank of India came up with the Corporate Debt Restructuring model in August 2001 providing detailed guidelines for establishing the