Beena Parmar
Moneycontrol News
The banking sector this week was shadowed largely with the bankers doing marathon meetings to decide on the 12 large corporate bad loan accounts identified by the Reserve Bank of India to be taken to the National Company Law Tribunal under the Insolvency and Bankruptcy Code.
The 12 defaulted borrowers include steel and infrastructure companies such as Lanco Infratech, Bhushan Steel, Bhushan Power and Steel, Essar Steel, Electrosteels Steel and Alok Industries among others.
Joint Lenders’ Forum led by banks including State Bank of India, Punjab National Bank and IDBI bank, for each corporate account met in a series of meetings and formally approved taking the company’s resolution process throu…
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