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Govt likely to extend 180-day deadline for stressed power companies, says report

Updated : July 26, 2018 09:33 AM IST

The government is likely to recommend bankruptcy proceedings for stressed power plants to be carried out after 360 days of default which will give relief to banks and companies struggling to comply with the 180-day deadline, The Economic Times reported.
The 180-day deadline was set by the Reserve Bank of India in its controversial February 12 circular.
The recommendation is expected to be presented to the Allahabad High Court.
Govt likely to extend 180-day deadline for stressed power companies, says report

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