RBI's February 12 circular may send 100 more companies to NCLT, says report
Updated : November 09, 2018 12:19 PM IST
The Supreme Court will hear a case filled by the power producers’ association against the Reserve Bank’s February 12 circular on November 13, the report said, adding that any decision by the Apex court will not only impact these stressed power companies but also the ones that are associated with them as the Supreme Court has bunched all the petitions together for a single hearing.
Life Insurance Company (LIC), Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) and public sector banks are not giving consent for any debt restructuring programmes which may led to about 80-100 companies being referred to the NCLT, the report said.
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