Lenders to miss March-end deadline to resolve key insolvency cases

Once an account is settled with the highest bidder paying their bid amount, then it frees part of bank's locked fund in an account which could be used for lending purposes


(Photo: Reuters)

Dev Chatterjee Mumbai
Indian lenders are set to miss the March-end deadline to resolve several key bankruptcy accounts, including that of Reliance Capital (RCap) and Videocon Industries. This is resulting in blockage of funds worth over Rs 1 trillion.

The banks were targeting to conclude the entire process by March-end so that they could resolve these accounts.

Other unresolved accounts include Future Retail, Lanco Amarkantak, Reliance Broadcast, and Srei Infrastructure Finance.

First Published: Mar 12 2023 | 11:44 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com