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B&F: Supreme Court Strikes Down RBI'S Circular on Resolution of Stressed Assets

Updated: Jan 18, 2022

The Reserve Bank of India ("RBI") vide Circular No.131 dated February 12, 2018 ("Circular") issued a generic framework and instructions to resolve the stressed assets in the economy. The Circular was issued by the RBI in exercise of its power under Section 35AA of the Banking Regulation Act, 1949 ("Act"), which section was inserted through the Banking Regulation (Amendment) Act, 2017 ("Amendment Act").

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