Top 10 biz headlines: SC on RBI's circular, manufacturing PMI, and more

From Sensex touching new high to Jet Airways' resolution plan, Business Standard brings you top 10 business stories that made news on Tuesday

1. SC writes off RBI's February 12 circular on resolution of stressed assets

The Supreme Court on Tuesday annulled the Reserve Bank of India’s (RBI’s) February 12 circular on resolving bad debt and said the banking regulator had acted beyond its legal powers while issuing the directive, potentially inflicting a setback on the central bank’s war on non-performing assets (NPAs). Read more

2. Wait for debt resolution likely to get longer for stressed power assets

The Rs 2-trillion worth of non-performing assets (NPAs) in the power sector have escaped the noose of insolvency, but the route to resolution remains long