RBI tells banks to file cases against 12 big loan defaulters in a month

RBI tells banks to file cases against 12 big loan defaulters in a month

The Reserve Bank of India (RBI) has sent to commercial banks the list of 12 defaulters against whom it wants creditors to invoke immediate bankruptcy proceedings, said five bankers aware of the development.

In a letter, the central bank said cases should be filed under the Insolvency & Bankruptcy Code (IBC) at the National Company Law Tribunal (NCLT) against the 12 within a month, these bankers said on condition of anonymity.

The defaulters’ list comprises Bhushan Steel Ltd, Bhushan Power & Steel Ltd, Essar Steel Ltd, Jaypee Infratech Ltd, Lanco Infratech Ltd, Monnet Ispat & Energy Ltd, Jyoti Structures Ltd, Electrosteel Steels Ltd, Amtek Auto Ltd, Era Infra Engineering Ltd, Alok Industries Ltd and ABG Shipyard Ltd, according to the bankers. Mint hasn’t seen a copy of the list. Read more

Credits:www.livemint.com

Leave a Reply

Your email address will not be published.