Bankruptcy law: 70 cos, Rs 3.6L cr under scanner

RBI in February introduced new rules and a 180-day timeline for banks to recast loans once payments are missed, scrapping previous methods that could take an indefinite amount of time. Companies that were delinquent when the norms came into force will run out of time Monday, after which lenders must start moving court to admit the cases under the Insolvency and Bankruptcy Code (IBC).

from Times of India https://ift.tt/2BPPS97

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