Financial Chronicle - - FRONT PAGE -

The gov­ern­ment feels the cur­rent time­line is prov­ing in­suf­fi­cient to ar­rive at a res­o­lu­tion

The fi­nance min­istry is sug­gest­ing that 75 per cent of bankers agree­ing to a res­o­lu­tion — at present it is 100 per cent — is enough for pass­ing the res­o­lu­tion in the com­mit­tee of cred­i­tors

The changes be­ing pro­posed will def­i­nitely help corporates, bankers and ev­ery­body else in­volved, said sources

The cur­rent law al­lows a max­i­mum 270 days for res­o­lu­tion — an ini­tial 180 days and 90 days of ex­tra time If changes are in­cor­po­rated, it will be a full year for any res­o­lu­tion of NPA

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