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SBI fixes plans for six stressed power assets; RBI deadline ends Monday

Other lenders yet to come on board

Insolvency Proceedings  |  State Bank Of India  |  Reserve Bank Of India

Abhijit Madhav Lele & Jyoti Mukul  |  Mumbai | New Delhi 

State Bank of India (SBI) has chalked out resolution plans for about half a dozen stressed power assets. But their future is still uncertain as other lenders are yet to come on board even as the Reserve Bank of India’s deadline for beginning insolvency proceedings ends on August 27.

SBI is the lead lender, with an exposure of Rs 700 billion to these companies. Lenders are still hoping that the latest amendment to the Insolvency and Bankruptcy Code (IBC) would come to their rescue since they have the option to withdraw an insolvency case referred to the National Company Law ...

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First Published: Fri, August 24 2018. 08:38 IST