IBC: Bidders want clarity on haircut to be offered to operational creditors

With the resolution plans of most bidders taking care of only secured creditors, operational and unsecured creditors plan to take the fight to SC to get their dues

With numerous unsecured and trade creditors going to the National Company Law Tribunal (NCLT), bidders of stressed assets want clear guidelines on the amount of dues to be offered to unsecured creditors in the next round.

With the resolution plans of most bidders taking care of only secured creditors, operational and unsecured creditors plan to take the fight to the Supreme Court to get their dues.

In Binani Cement, the resolution plan had taken into account the full dues of only one unsecured creditor, IDBI Bank, which had a say in the voting, and just 10% to another, State Bank