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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.
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