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Two years on, debt resolution of first dozen firms still not complete

The combined debt of these 12 large accounts was Rs 3.45 trillion; the amount realised so far is Rs 1.01 trillion. The liquidation value of these 12 large accounts was Rs 73,220 crore

corporate debt
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Electorsteel Steels, Bhushan Steel, Monnet Ispat & Energy, Essar Steel India, Alok Industries, Jyoti Structures and Bhushan Power & Steel are the companies where a resolution plan has been approved.

Subrata Panda Mumbai
Of the 12 large accounts which were referred to the National Company Law Tribunal (NCLT) for resolution by the Reserve Bank of India (RBI) in 2017, resolution of seven corporate debtors has been approved and orders for liquidation has been passed in respect of two corporate debtors even as the resolution process for three of the remaining has not concluded. 

The combined debt of these 12 large accounts was Rs 3.45 trillion; the amount realised so far is Rs 1.01 trillion. The liquidation value of these 12 large accounts was Rs 73,220 crore.

Electorsteel Steels, Bhushan Steel, Monnet Ispat &

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First Published: Oct 30 2019 | 11:57 PM IST

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