Extend deadline for inter-creditor pacts: Banks to RBI

Banks are willing to make the additional 20% provision that breaching the deadline entails but want the window of resolution open until the March 31 financial year end to avoid the value destruction that they say would follow by taking the NCLT route as prescribed by the Insolvency and Bankruptcy Code (IBC).

from Banking/Finance-Industry-Economic Times https://ift.tt/2FbGonG