December 11, 2017

Bankers Prepare To Send Nearly Rs 1.8 Lakh Crore In Loans To NCLT

Loans worth nearly Rs 1.82 lakh crore are at risk of entering the insolvency and bankruptcy process this month, three bankers with direct knowledge have confirmed. According to these bankers, this is the approximate exposure which banks have against the 29 corporate accounts which form the second list of stressed assets created by the Reserve Bank of India, most of which will have to be admitted under the insolvency process.

These firms will add to the 12 large accounts which were referred for resolution under the Insolvency and Bankruptcy Code in June this year at the direction of the RBI. Following this, another list of accounts had been sent to banks to try and resolve by December. If they failed to do so, banks were asked to refer these to the IBC too.

Read more at https://www.bloombergquint.com/business/2017/12/11/bankers-prepare-to-send-nearly-rs-18-lakh-crore-in-loans-to-nclt

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