SBI to move NCLT over bad debts

Energy industry provides big-ticket cases under Bankruptcy Code

State Bank of India (SBI) is planning to take the insolvency route to recover non-performing assets (NPAs).

According to sources, SBI is planning to take steel and coal companies to the National Company Law Tribunal (NCLT).

The bank did not comment on Business Standard’s query on the issue.

SBI’s gross NPAs of Rs 1,12,343 crore on March 31, 2017, constitute one-sixth of the total bad debts of public sector banks.

Six months after the notification of the Insolvency and Bankruptcy Code, a number of big-ticket filings have been made in the NCLT. In May, filings worth Rs 10,000 crore were initiated, one of them