India - Government Can Ask RBI To Refer Defaulters To NCLT.
Legal News & Analysis - Asia Pacific - India - Insolvency & Restructuring
29 May, 2019
Deccan Chronicle published an article on the Supreme Court (SC) quashing RBI’s February 12 circular. The article shares Devesh Juvekar’s views on the subject, where he stated that the SC ruling did not restrict the rights of banks to initiate independent proceedings under the Insolvency and Bankruptcy Code, 2016 against companies who have committed default and that it would be interesting to see whether the RBI recalls the erstwhile restructuring schemes.
Devesh Juvekar, Partner, Rajani Associates