Relief ahead for banks as deadline for resolving 10 major NCLT cases nears

The pruned second NCLT list comprises 25 companies whose loans have turned into NPAs

The coming weeks will be important for the banking sector, especially the government-owned ones. For, the last date for resolving 10 of the 12 major cases of bad loan accounts referred to the National Company Law Tribunal (NCLT) is within the next month.

These 12 cases were in the first list of such cases which the Reserve Bank of India (RBI) had ordered to be sent to NCLT for resolution under the Insolvency and Bankruptcy Code (IBC). The final resolution date for eight of these 12 (commonly referred to as the NCLT-1 list) is between April 14 and April 30;