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Banks set to refer all stressed power companies to NCLT

Updated : September 07, 2018 09:15 AM IST

This development comes as a surprise as the banks were actively trying to resolve many power assets outside the NCLT.
The banks could not secure approvals from all lenders in time and will now have to refer them to NCLT in compliance with Reserve Bank of India's February 12 circular.
Sources added that another reason for taking the NCLT route for stressed power projects is to avoid investigations on bankers.
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