INSUBCONTINENT EXCLUSIVE:
The government has called a meeting on Monday with resolution professionals and lenders of dozen cases, three people familiar with matter
Timelines have already run beyond what is permitted by law in many cases
Three lenders from each of dozen cases are expected to attend meeting
Injeti Srinivas, Secretary, Ministry of Corporate Affairs, and MS Sahoo, chairman of Insolvency and Bankruptcy Board of India (IBBI), will
take stock of situation on technical impediments causing delays
An email sent to MCA secretary remained unanswered until publication of this report
The meeting will deliberate on possible solutions to bring these cases to a conclusion
senior executive with direct knowledge of matter.
Essar Steel, one of largest bankruptcy cases, failed to repay about Rs 49,000 crore to its
The case has been running for one and half years
The IBC permits a maximum of 270 days for settling a case.
