RBI vide its circular (“Circular”) dated February 12, 2018 (“Revised Framework”) has overhauled the extant stressed asset resolution framework – thereby ensuring that lenders and borrowers have to put their act together to have a robust time bound implementation plan in order to recover stressed assets outside the legal regime of the Insolvency & Bankruptcy Code (“IBC”). Effectively, the Revised Framework is designed to make the IBC as the Sword of Damocles for defaulting large account holder (exposure of Rupees 20 Billion upwards) to execute binding agreements, and take all such other steps as prescribed, within 180 days from March 01, 2018.
16_02_2018_Newsletter-FEB-2018
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