 "SC to choose between Sebi, RBI circulars for stressed assets' resolution")
The Supreme Court (SC) will soon decide on the conflict over applicability of two circulars for resolution of stressed assets—one issued by banking sector regulator RBI and the other by securities regulator Sebi.
Under the RBI circular, any decision agreed by lenders representing 75 per cent by value of total outstanding credit facilities (fund based as well non-fund based) and 60 per cent of lenders by number shall be binding upon all the lenders. Meanwhile, a Sebi circular mandates that casting of votes by debenture holders take place at the ISIN-level.
An International Securities Identification Number (ISIN) is a 12 -digit alphanumeric
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