Supreme Court Essar Steel judgment favours banks, says Nomura
Updated : November 18, 2019 01:38 PM IST
The Supreme Court’s judgement on Essar Steel case that the committee of creditors (CoC) has the discretion to decide on the distribution of proceeds of a bankrupt firm will be positive for banks, brokerage house Nomura has said.
According to Nomura, the State Bank of India (SBI) and ICICI Bank will be key beneficiaries from the judgement.
The SBI could alone have a recovery of around Rs 12,000 crore.