Iba Drafts New Intercreditor Agreement For Resolution Of Stressed Assets
As soon as the revised control circular is available, all interested banks will re-sign the agreement. On 12.2.2018, the Reserve Bank of India (RBI) issued a circular on the resolution of stressed assets – Revised Framework. The RBI indicated that, by order of 2.4.2019, the Supreme Court considered that this circular was not is, which made it necessary to issue a revised circular for a quick and effective resolution of stressed assets. The RBI also announced: In this context, the RBI published, on 7.6.2019, a “Prudential Framework for Resolution of Stressed Assets” for the early settlement of stressed assets in a transparent and temporal manner, with lenders having all the necessary flexibility to design and implement resolution plans, while providing dissuasive incentives in the form of additional provisions for delays in the implementation of decommissioning The Committee on the Organisation of Time and the Organisation of Working Time was set up by the Commission. and to make it mandatory to sign an agreement between creditors providing for a majority decision by all lenders. The revised RBI standards require lenders, including financial institutions and small financial banks, to have a creditor-to-creditor agreement (ICA), also known as a “review period,” in which lenders verify an account and decide on a resolution strategy within 30 days of a default. . . .