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Economy

The fall out of invalidating RBI’s Feb 12 circular

Updated : April 09, 2019 01:51 PM IST

The Supreme Court ruled in favour of the power producers and struck down the Feb 12 circular but did so without considering the merits of these arguments.
The SC held that a generic circular directing IBC against all defaulting companies with debt in excess of Rs 2,000 crore was neither in respect of specific defaults nor was it on the directions of the central government.
The pedantic view taken by the SC creates several issues and poses some difficult questions.
The fall out of invalidating RBI’s Feb 12 circular

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