The Reserve Bank of India (RBI) has moved a second defaulter list against 28 NPA accounts for bankruptcy resolution under the insolvency and bankruptcy code. Photo: Reuters
Mumbai: At least three large lenders including ICICI Bank Ltd, State Bank of India (SBI) and Bank of Baroda (BoB) are planning to ask the ministry of corporate affairs (MCA) to further clip the wings of promoters of companies facing insolvency proceedings.
The lenders will try to convince the ministry to amend the Insolvency and Bankruptcy Code (IBC) to remove certain inconsistencies so that promoters of such defaulting companies can be completely kept out of the resolution process, two people aware of the matter said, requesting anonymity.
They pointed out that while …
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