NCLT is set to receive a huge chunk of resolution plans in early January as banks scramble to come up with a plan for loans worth Rs 3 lakh crore under the June 7 circular.
Under the new RBI rule –
The cases are referred to IBC by the lenders based on the viability and depending on the extent of haircut the bank can take.
By the first week of January, creditors have to enter into an inter-creditor agreement and the resolution plan and will have to implement it within 180 days of the end of the review period.
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