An Internal Advisory Committee of the Reserve Bank of India have reportedly identified 12 accounts of corporate borrowers who owe an amount close to Rs 175,000 crore in total. The defaulters, who owe over Rs 5,000 crore each with 60 percent or more (Rs 3,000 crore or more) classified as non-performing by banks as on March 31, 2016, have been identified for insolvency proceedings under the newly enacted Insolvency and Bankruptcy Code 2016. However, the central bank did not reveal the names of these 12 defaulters.
By Vikraman Maniraj | Jun 14, 2017 11:22 AM #RBI #Defaulters
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