 "table")
IDBI Bank is planning to drag over 10 corporate loan defaulters to the National Company Law Tribunal (NCLT) for recovery.
The Mumbai-based public sector bank has received orders from the NCLT’s Ahmedabad Bench for appointment of interim resolution professionals in two cases relating to Bhatia Global Trading and Asian Natural Resources. The orders empower the bank to start the insolvency resolution process.
An IDBI Bank executive said the Bankruptcy and Insolvency Code, which came into effect last year, was a useful tool for action to get money back.
The bank will use the NCLT platform for medium-sized enterprises where it has the maximum
