NEW DELHI: Top officials at leading banks fear that the insolvency resolution process at three companies with dues of about Rs 1 lakh crore is likely to fail, leading inevitably to liquidation.
Lenders are unwilling to accept offers for Lanco Infratech, ABG Shipyard and Alok Industries that involve substantial haircuts over concerns that such deals will lead to investigations and harassment later on and because the bids are close to the liquidation value anyway, said the three executives.
The three accounts were among the 12 first large non-performing assets (NPAs) identified by the Reserve Bank of India (RBI) for resolution under the Insolvency and Bankruptcy Code (IBC) in June 2017.
Alok Industries is definitely undergoing liquidati…
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