Banks are once again trying to make use of the small window of opportunity to resolve certain accounts facing insolvency proceedings ahead of the Supreme Court hearing on the RBI’s February 12 circular later this week.
The Supreme Court is due to hear the power, sugar and shipping companies’ pleas against the RBI’s Feb 12 circular on resolution of stressed assets on November 28. The ruling in the matter may take another month or two, at the very least.
Several stressed power accounts identified under SBI’s Samadhan scheme are being examined by banks for potential resolutions. Read More