RCom, other 80 borrowers likely to face insolvency proceedings as RBI deadline looms
Updated : August 27, 2018 10:38 PM IST
The new rule mandates lenders to initiate insolvency resolution under the Bankruptcy Code, if a borrower fails to pay even at the end of the 180 days of first default.
For the corporates, who are already late on their repayment to banks, the 180-day deadline started on March 1 and will come to an end on August 27.
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morning
YOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more