Business Today - - THE BUZZ - – Anilesh S. Ma­ha­jan

THIRTY-FOUR STRESSED power sec­tor ac­counts that de­faulted on ` 1.5 lakh crore worth of dues are now be­fore the Na­tional Com­pany Law Tri­bunal – yet again. They were given a 180- day dead­line to set­tle their debts but failed.

Lender banks are ex­pected to take a haircut and write- off these ‘bad loans’ – 18 of which had al­ready been re­ferred to the NCLT ear­lier. The re­main­ing, in­clud­ing IndBarath En­ergy (Utkal), Lanco An­para, Jin­dal In­dia Ther­mal Power and oth­ers will be at the bankruptcy tri­bunal within two weeks.

RBI has re­fused any re­lief on the dead­line to avoid set­ting a prece­dent even as SBI – the lead lender to nearly eight power plants is hop­ing for res­o­lu­tion, and has been given a fortnight to ap­point a le­gal team for the NCLT pro­ceed­ings.

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