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RBI to Reveal 12 Mega Defaulters Soon
June 19, 2017
According to the Finance Ministry, the name of 12 major defaulters identified by the central bank will be made public soon. The Reserve Bank of India said that these 12 defaulters contribute about 25% of the total NPAs and will be taken up for insolvency proceedings.
The cases involving the 12 big defaulters will be given a high priority by the National Company Law Tribunal (NCLT). Moreover, NCLT has been further strengthened by the Finance Ministry for speedy proceedings of the bankruptcy cases under the Insolvency and Bankruptcy Code (IBC).
