Mallya has no option but to return since cancellation of his passport will get him deported
As part of the governments three-part plan to address stressed assets of public sector banks, structural issues would be dealt with to avoid recurrence of these problems, whether wilful or due to policy paralysis or business challenges, in future. This, Minister of State for Finance Jayant Sinha said, would be done through the Bankruptcy and Insolvency Code, 2015 that was introduced in Parliament in December.
Last week, Finance Minister Arun Jaitley told Parliament that Rs. 1 lakh crore of stressed assets were added in the first nine months of the current financial year itself.
In the case of the largest public sector bank, S…
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