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Insolvency and Bankruptcy Code: Cleaning the books

The Reserve Bank of India asked banks to refer 12 major non-performing accounts to the National Company Law Tribunal for resolution

Veena Mani 

Insolvency and Bankruptcy Code: Cleaning the books

2017 has been a year of new beginnings and end for companies, with the being implemented in full swing. The asked banks to refer 12 major non-performing accounts to the for resolution.

Apart from this, voluntary also attracted many corporates looking to wind up businesses in India. Through the insolvency and bankruptcy proceedings against defaulters, public sector banks have recovered Rs 39.63 crore and have had to take a haircut of Rs 2.89 crore. Graph Graph Source: Public announcement documents/ http://ibbi.gov.in/webadmin/pdf/announcement/2017

First Published: Mon, January 01 2018. 02:40 IST
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