Thursday, May 26, 2022 | Last Update : 11:52 PM IST

  Business   Companies  02 Apr 2019  Supreme Court rejects tough RBI rule on debt resolution: Reports

Supreme Court rejects tough RBI rule on debt resolution: Reports

REUTERS
Published : Apr 2, 2019, 1:26 pm IST
Updated : Apr 2, 2019, 1:38 pm IST

Several companies, especially power firms, had sought intervention of the Supreme Court.

 (Photo: File | ANI)
  (Photo: File | ANI)

New Delhi: The Supreme Court dismissed a Reserve Bank of India circular that gave firms 180 days for debt resolution, failing which the issue would be taken under the country’s bankruptcy, TV channels reported on Tuesday.

Several companies, especially power firms, had sought intervention of the Supreme Court saying the time given by the central bank was not enough time to tackle the debt issue.

 

Tags: supreme court, debt resolution, power firms
Location: India, Delhi, New Delhi