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Most debtors in RBI list to go to NCLT: SBI
State Bank of India (SBI) on Friday said it expects most of the cases from the RBI’s second list of large non-performing assets (NPAs) to be referred to the National Company Law Tribunal (NCLT) for resolution under the Insolvency and Bankruptcy Code (IBC).
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“Almost the entire list will go to the NCLT. By March, the directions would be determined for the cases in the first list. The whole strategy around corporate cases, more and more, will probably be referred to the NCLT,” SBI Chairman Rajnish Kumar told reporters here presenting the results for the Q2 ending September.
SBI has an exposure of Rs 26,636 crore to 27 of about 30 such accounts listed by the RBI.
SBI posted a 37 per cent fall in standalone net profit for the Q2 ending September at Rs 1,581 crore pulled down by higher provisioning for its bad loans. The country’s biggest lender had registered a profit after tax of Rs 2,006 crore in the corresponding period of the last fiscal.
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