FIBAC 2018: No change in inter-creditor agreement, says Sashakt panel chief

There will not be any change in ICA document. IBA will issue operational guidelines, says Sunil Mehta

The inter-creditor agreement (ICA) signed by over 30 lenders for resolving big-ticket stressed assets will stay intact. Any fine-tuning will be done in the operating guidelines for ICA at a later date.

Sunil Mehta, who heads the panel for resolution of stressed loans, said the ICA has been framed after extensive legal consultation. The project for resolution of stressed assets has been named Sashakt.

There will not be any change in the ICA document. The Indian Banks’ Association will issue operational guidelines. These operational guidelines will specify the timelines for the processes, including voting on the resolution plan.

Over 30