In response to a parliamentary question, the finance ministry said following amendments to the Banking Regulation Act, the Reserve Bank of India directed banks to initiate insolvency proceedings before the National Company Law Tribunal in 41 cases, 12 of which had cumulative outstanding of Rs 1,97,769 crore as on March 31, 2017. The remaining 29 had an outstanding of Rs 1,35,846 crore as on June 30, 2017.
from Times of India http://bit.ly/2Q4gEwj
Wednesday, December 26, 2018
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