1.1. Financial crises come with a very short notice with the danger bells ringing. If unheeded, they appear with a bang holding potential of wide scale damage in the economy. The recent global financial crisis highlighted that the policy makers were inadequately prepared to deal with the failure of large or “too big to fail” banks, and the tools available with them were not sufficient for the orderly exit of such financial institutions even when they became unviable. Due in part to the lack of preparedness and inadequacy of the supportive law, the options available with the regulators - like liquidation creating further chaos or publically funded bail-out - were costly.