Lenders to refer more cases to NCLT

Lenders need to come up with a plan by January 7, failing which they would be required to make 20% provisions or refer the cases to court under IBC within 30 days, under the new RBI rule. “Many cases will be referred to NCLT whereever banks fail to put together a resolution plan,” said a senior bank executive with a public sector bank.

from Banking/Finance-Industry-Economic Times https://ift.tt/35IfX47