Finance The FRDI Bill had the answer to solve IL&FS mess Updated : October 30, 2018 10:20 AM IST The FRDI bill accounted for a Resolution Corporation to deal with issues arising in financial firms. The RC would have had a timeframe of two years to resolve crisis in a financial company. In the absence of FRDI bill, there does not exist a regulatory framework to resolve IL&FS crisis. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.