Banks target Sintex, NBFCs for insolvency proceedings

The move to initiate insolvency proceedings follows the expiry of the six-month deadline for resolving the default in respect of these companies. In terms of the RBI’s June 2019 circular, banks are required to make additional provisions for defaults that are unresolved, and insolvency proceedings are not initiated.

from Stocks-Markets-Economic Times https://ift.tt/2DgER2f