Many companies who take loans are unable to repay it and have to either face the lender’s recovery cycles or be stuck in the ever-burdened system of litigation. This is where mediation can come as a big relief for these debtors
The resolute efforts made by the Reserve Bank of India to tackle bank frauds and take action against wilful defaulters have resulted in a material reduction of Non-Performing Assets (NPAs) in the banking system, RBI apprised the Supreme Court on Wednesday
The plea by Tarun Polymers has impleaded as respondents Shaktikanta Das, Sunil Mehta and Shashi Ranjan Giri, the Authorised officer of Indian Bank, Allahabad.
The Supreme Court today has said that accounts which had not been named as non-performing assets (NPA) as on August 31 should not be declared NPA till further orders.