A group of top lenders on Monday met officials from the Indian Banks’ Association (IBA) to review the progress of insolvency proceedings against 12 companies sent to the National Company Law Tribunal (NCLT). Sources said it was attended by SBI and PNB, among others.
Bankers said the meeting was to take stock of the proceedings and discuss the possibilities of recovery and resolution of these accounts. “It was a regular exercise, aiming to review these accounts. We want a proper co-ordination among all parties,” a banker said.
Meanwhile, NCLT benches have admitted nine of the 12 companies and appointed interim resolution professionals (IRPs) to manage them.