Indian lenders haven’t yet been able to restructure 12 stressed loan accounts in the power sector, people with knowledge of the discussions said, underscoring the risk that these may be referred to bankruptcy courts after Rs 3.75 lakh crore of debt came under scrutiny following a Reserve Bank of India (RBI)directive.
It was thought that a resolution was possible in seven of these assets, the people said, asking not to be identified as the information is private. Under a RBI directive in February, lenders had until August 27 to recast certain delinquent loans and a further 15 days to refer the cases under the country’s bankruptcy law.
Discussions on revamping the debt are ongoing and lenders may still reach agreement on some assets, according to the people. Read More