{"id":33907,"date":"2018-10-30T14:54:55","date_gmt":"2018-10-30T09:24:55","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=33907"},"modified":"2018-10-30T14:54:55","modified_gmt":"2018-10-30T09:24:55","slug":"wilful-defaulters-must-not-buy-ibc-assets","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/wilful-defaulters-must-not-buy-ibc-assets\/","title":{"rendered":"\u2018Wilful defaulters must not buy IBC assets\u2019"},"content":{"rendered":"<p><a href=\"http:\/\/www.thehindu.com\/business\/Economy\/wilful-defaulters-must-not-buy-ibc-assets\/article20556666.ece\"><span style=\"font-weight: 400;\">\u2018Wilful defaulters must not buy IBC assets\u2019<\/span><\/a><\/p>\n<p><b>Context<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">To ensure the success of the bankruptcy process under the Insolvency and Bankruptcy Code (IBC), the Finance Ministry has asked banks to be vigilant to ensure that wilful defaulters are prevented from buying stressed assets<\/span><\/li>\n<\/ul>\n<p><b>What is the present scenario<\/b><span style=\"font-weight: 400;\">?<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">As many as 12 accounts, each having more than \u20b95,000 crore of outstanding loans, and accounting for 25% of total NPAs of banks are under the insolvency and bankruptcy resolution process.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The total outstanding of these accounts, taken together, is \u20b91.75 lakh crore.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Banks are in the process of taking other large non-performing accounts to the National Company Law Tribunal (NCLT) under the insolvency and bankruptcy code.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The resolution is crucial to the entire banking sector and therefore banks have been advised to be vigilant so that wilful defaulters do not get benefits of the process.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Non-performing assets of public sector banks have increased to \u20b97.33 lakh crore as of June 2017, from \u20b92.78 lakh crore in March 2015.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>\u2018Wilful defaulters must not buy IBC assets\u2019 Context To ensure the success of the bankruptcy process under the Insolvency and Bankruptcy Code (IBC), the Finance Ministry has asked banks to be vigilant to ensure that wilful defaulters are prevented from buying stressed assets What is the present scenario? As many as 12 accounts, each having&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/wilful-defaulters-must-not-buy-ibc-assets\/\">Continue reading <span class=\"screen-reader-text\">\u2018Wilful defaulters must not buy IBC assets\u2019<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[],"class_list":["post-33907","post","type-post","status-publish","format-standard","hentry","category-test-1","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704890082},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/33907","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=33907"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/33907\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=33907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=33907"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=33907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}