Wednesday, September 18, 2019
facebook
Business

Posted at: Sep 12, 2019, 7:50 AM; last updated: Sep 12, 2019, 7:50 AM (IST)

Move NCLT as last resort, banks told

Resolution of stressed a/cs

  • MoS for Finance Anurag Thakur said the NCLT route should not be used by bankers to resolving stressed accounts on a daily basis
  • He assured the bankers to take decision to lend to the industry without any fear of ‘witch-hunting’ in future by any investigative agencies

Mumbai, September 11

The government today asked banks to put in all efforts to resolve bad loans themselves and approach National Company Law Tribunal (NCLT) only in the absence of any alternative.

Minister of State for Finance and Corporate Affairs Anurag Thakur said the NCLT route should not be used by bankers to resolving stressed accounts on a daily basis.

“I would request bankers to try and resolve stressed assets in the right earnest and refer cases to NCLT only if satisfied resolution outside the NCLT process is not available,” Thakur said at the 72nd annual general meeting of Indian Banks’ Association (IBA).

He assured the bankers to take decision to lend to the industry without any fear of ‘witch-hunting’ in future by any investigative agencies. — PTI

COMMENTS

All readers are invited to post comments responsibly. Any messages with foul language or inciting hatred will be deleted. Comments with all capital letters will also be deleted. Readers are encouraged to flag the comments they feel are inappropriate.
The views expressed in the Comments section are of the individuals writing the post. The Tribune does not endorse or support the views in these posts in any manner.
Share On