Bank representatives are to meet here on Monday for a review of the work done on the resolution process under the Insolvency and Bankruptcy Code (IBC).
It would be the first such exercise since the Reserve Bank of India (RBI), on June 13, directed action on 12 big-size bad loan cases.
The aim is to improve on coordination and execution, besides highlighting issues with procedures at the National Company Law Tribunal (NCLT). The body has come into focus since these 12 large non-performing asset (NPA) accounts had come before it. These accounts are about a fourth of the total of NPAs in the banking system.
The companies in question include Essar Steel, Bhushan Steel, Bhushan Power and Steel, L…