 "Aditya Birla group's ARC set to make a formal bid for RattanIndia Power")
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 drawn.
About 34 thermal power generating assets totalling 40,000 megawatt (Mw) will now have to find a buyer or undergo debt resolution without the Reserve Bank of India (RBI) prescribed deadline.
The Supreme Court (SC) on Tuesday quashed the February 12, 2018, circular, thereby denying all resolution process arising after it. In the circular issued under the Insolvency and Bankruptcy Code (IBC), the RBI had allowed 180 days to the lenders for debt resolution of large defaulters,
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