Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 73
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 73
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 74
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 74
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

                trigger_error($message, E_USER_WARNING);

            } else {
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</span></span></code>
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&lt;br /&gt;
&lt;em&gt;Barring few cases, large haircuts of 70-90 per cent are continuing to hurt banks&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
While the Centre&amp;rsquo;s decision to frontload capital infusion of Rs 70,000 crore into PSBs has boosted sentiment, unless there is quick resolution of large accounts under IBC, this may achieve little. What is of more concern, is the paltry amount that banks have been realising from the resolution of accounts under IBC.&lt;br /&gt;
&lt;br /&gt;
A look at data available on the Insolvency and Bankruptcy Board of India (IBBI) website from the Oct-Dec 2017 quarter (when the first set of resolutions came about), suggests that barring few accounts such as Electrosteel Steels, Bhushan Steel and Binani Cements - where the amount realised by financial creditors as a per cent of their claims has been between 40-100 per cent - the average recoveries in other cases has been poor at 20-25 per cent. This has meant huge haircuts for banks, accentuating the problem of excessive delays.&lt;br /&gt;
&lt;br /&gt;
The data put out by IBBI pertains to cases where the resolution plan has been approved by the CoC (Committee of Creditors). These may not have translated to actual recoveries for banks as many of the cases have been stuck in endless litigations or even ended up in litigation subsequently.&lt;br /&gt;
&lt;br /&gt;
Of the two list of accounts that the RBI had referred to IBC for resolution - constituting about half of the bad loans in the system - only in a handful of cases such as Bhushan Steel, Monnet Ispat and Electrosteel Steels, banks have actually recovered some amount. In others, while the CoC may have approved the resolution plan, cases are still stuck in litigations. Bhushan Power &amp;amp; Steel, Essar Steel and Alok Industries - are a case in point.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;https://www.thehindubusinessline.com/money-and-banking/poor-recoveries-under-ibc-can-derail-centres-70000-cr-recap-plan/article29277689.ece?homepage=true&amp;amp;fbclid=IwAR1N9WVu05-jOMIeLZVSHoj4ImwkjPU0sJs7unus_HfrG0LtavJl5OFbsfY&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
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Barring few cases, large haircuts of 70-90 per cent are continuing to hurt banks

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While the Centre&amp;rsquo;s decision to frontload capital infusion of Rs 70,000 crore into PSBs has boosted sentiment, unless there is quick resolution of large accounts under IBC, this may achieve little. What is of more concern, is the paltry amount that banks have been realising from the resolution of accounts under IBC.&lt;br /&gt;
&lt;br /&gt;
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&lt;br /&gt;
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&lt;br /&gt;
Of the two list of accounts that the RBI had referred to IBC for resolution - constituting about half of the bad loans in the system - only in a handful of cases such as Bhushan Steel, Monnet Ispat and Electrosteel Steels, banks have actually recovered some amount. In others, while the CoC may have approved the resolution plan, cases are still stuck in litigations. Bhushan Power &amp;amp; Steel, Essar Steel and Alok Industries - are a case in point.&lt;br /&gt;
&lt;br /&gt;
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Barring few cases, large haircuts of 70-90 per cent are continuing to hurt banks

While the Centre&amp;rsquo;s decision to frontload capital infusion of Rs 70,000 crore into PSBs has boosted sentiment, unless there is quick resolution of large...&#039;
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-The Hindu Business Line

Barring few cases, large haircuts of 70-90 per cent are continuing to hurt banks

While the Centre&rsquo;s decision to frontload capital infusion of Rs 70,000 crore into PSBs has boosted sentiment, unless there is quick resolution of large..."/>
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                <strong>Poor recoveries under IBC can derail Centre&#039;s Rs. 70,000-cr recap plan -Radhika Merwin</strong></h1>
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                <div align="justify">-The Hindu Business Line<br /><br /><em>Barring few cases, large haircuts of 70-90 per cent are continuing to hurt banks<br /></em><br />While the Centre&rsquo;s decision to frontload capital infusion of Rs 70,000 crore into PSBs has boosted sentiment, unless there is quick resolution of large accounts under IBC, this may achieve little. What is of more concern, is the paltry amount that banks have been realising from the resolution of accounts under IBC.<br /><br />A look at data available on the Insolvency and Bankruptcy Board of India (IBBI) website from the Oct-Dec 2017 quarter (when the first set of resolutions came about), suggests that barring few accounts such as Electrosteel Steels, Bhushan Steel and Binani Cements - where the amount realised by financial creditors as a per cent of their claims has been between 40-100 per cent - the average recoveries in other cases has been poor at 20-25 per cent. This has meant huge haircuts for banks, accentuating the problem of excessive delays.<br /><br />The data put out by IBBI pertains to cases where the resolution plan has been approved by the CoC (Committee of Creditors). These may not have translated to actual recoveries for banks as many of the cases have been stuck in endless litigations or even ended up in litigation subsequently.<br /><br />Of the two list of accounts that the RBI had referred to IBC for resolution - constituting about half of the bad loans in the system - only in a handful of cases such as Bhushan Steel, Monnet Ispat and Electrosteel Steels, banks have actually recovered some amount. In others, while the CoC may have approved the resolution plan, cases are still stuck in litigations. Bhushan Power &amp; Steel, Essar Steel and Alok Industries - are a case in point.<br /><br />Please <a href="https://www.thehindubusinessline.com/money-and-banking/poor-recoveries-under-ibc-can-derail-centres-70000-cr-recap-plan/article29277689.ece?homepage=true&amp;fbclid=IwAR1N9WVu05-jOMIeLZVSHoj4ImwkjPU0sJs7unus_HfrG0LtavJl5OFbsfY" title="https://www.thehindubusinessline.com/money-and-banking/poor-recoveries-under-ibc-can-derail-centres-70000-cr-recap-plan/article29277689.ece?homepage=true&amp;fbclid=IwAR1N9WVu05-jOMIeLZVSHoj4ImwkjPU0sJs7unus_HfrG0LtavJl5OFbsfY">click here</a> to read more. <br /></div>               </font>
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    <link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f1b2b09d67c-trace').style.display = (document.getElementById('cakeErr67f1b2b09d67c-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67f1b2b09d67c-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f1b2b09d67c-code').style.display = (document.getElementById('cakeErr67f1b2b09d67c-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f1b2b09d67c-context').style.display = (document.getElementById('cakeErr67f1b2b09d67c-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67f1b2b09d67c-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700">&lt;</span><span style="color: #0000BB">head</span><span style="color: #007700">&gt;
</span></span></code>
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-The Hindu Business Line&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Barring few cases, large haircuts of 70-90 per cent are continuing to hurt banks&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
While the Centre&amp;rsquo;s decision to frontload capital infusion of Rs 70,000 crore into PSBs has boosted sentiment, unless there is quick resolution of large accounts under IBC, this may achieve little. What is of more concern, is the paltry amount that banks have been realising from the resolution of accounts under IBC.&lt;br /&gt;
&lt;br /&gt;
A look at data available on the Insolvency and Bankruptcy Board of India (IBBI) website from the Oct-Dec 2017 quarter (when the first set of resolutions came about), suggests that barring few accounts such as Electrosteel Steels, Bhushan Steel and Binani Cements - where the amount realised by financial creditors as a per cent of their claims has been between 40-100 per cent - the average recoveries in other cases has been poor at 20-25 per cent. This has meant huge haircuts for banks, accentuating the problem of excessive delays.&lt;br /&gt;
&lt;br /&gt;
The data put out by IBBI pertains to cases where the resolution plan has been approved by the CoC (Committee of Creditors). These may not have translated to actual recoveries for banks as many of the cases have been stuck in endless litigations or even ended up in litigation subsequently.&lt;br /&gt;
&lt;br /&gt;
Of the two list of accounts that the RBI had referred to IBC for resolution - constituting about half of the bad loans in the system - only in a handful of cases such as Bhushan Steel, Monnet Ispat and Electrosteel Steels, banks have actually recovered some amount. In others, while the CoC may have approved the resolution plan, cases are still stuck in litigations. Bhushan Power &amp;amp; Steel, Essar Steel and Alok Industries - are a case in point.&lt;br /&gt;
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Barring few cases, large haircuts of 70-90 per cent are continuing to hurt banks

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&lt;em&gt;Barring few cases, large haircuts of 70-90 per cent are continuing to hurt banks&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
While the Centre&amp;rsquo;s decision to frontload capital infusion of Rs 70,000 crore into PSBs has boosted sentiment, unless there is quick resolution of large accounts under IBC, this may achieve little. What is of more concern, is the paltry amount that banks have been realising from the resolution of accounts under IBC.&lt;br /&gt;
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&lt;br /&gt;
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&lt;br /&gt;
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&lt;br /&gt;
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Barring few cases, large haircuts of 70-90 per cent are continuing to hurt banks

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-The Hindu Business Line

Barring few cases, large haircuts of 70-90 per cent are continuing to hurt banks

While the Centre&rsquo;s decision to frontload capital infusion of Rs 70,000 crore into PSBs has boosted sentiment, unless there is quick resolution of large..."/>
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                <strong>Poor recoveries under IBC can derail Centre&#039;s Rs. 70,000-cr recap plan -Radhika Merwin</strong></h1>
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                <div align="justify">-The Hindu Business Line<br /><br /><em>Barring few cases, large haircuts of 70-90 per cent are continuing to hurt banks<br /></em><br />While the Centre&rsquo;s decision to frontload capital infusion of Rs 70,000 crore into PSBs has boosted sentiment, unless there is quick resolution of large accounts under IBC, this may achieve little. What is of more concern, is the paltry amount that banks have been realising from the resolution of accounts under IBC.<br /><br />A look at data available on the Insolvency and Bankruptcy Board of India (IBBI) website from the Oct-Dec 2017 quarter (when the first set of resolutions came about), suggests that barring few accounts such as Electrosteel Steels, Bhushan Steel and Binani Cements - where the amount realised by financial creditors as a per cent of their claims has been between 40-100 per cent - the average recoveries in other cases has been poor at 20-25 per cent. This has meant huge haircuts for banks, accentuating the problem of excessive delays.<br /><br />The data put out by IBBI pertains to cases where the resolution plan has been approved by the CoC (Committee of Creditors). These may not have translated to actual recoveries for banks as many of the cases have been stuck in endless litigations or even ended up in litigation subsequently.<br /><br />Of the two list of accounts that the RBI had referred to IBC for resolution - constituting about half of the bad loans in the system - only in a handful of cases such as Bhushan Steel, Monnet Ispat and Electrosteel Steels, banks have actually recovered some amount. In others, while the CoC may have approved the resolution plan, cases are still stuck in litigations. Bhushan Power &amp; Steel, Essar Steel and Alok Industries - are a case in point.<br /><br />Please <a href="https://www.thehindubusinessline.com/money-and-banking/poor-recoveries-under-ibc-can-derail-centres-70000-cr-recap-plan/article29277689.ece?homepage=true&amp;fbclid=IwAR1N9WVu05-jOMIeLZVSHoj4ImwkjPU0sJs7unus_HfrG0LtavJl5OFbsfY" title="https://www.thehindubusinessline.com/money-and-banking/poor-recoveries-under-ibc-can-derail-centres-70000-cr-recap-plan/article29277689.ece?homepage=true&amp;fbclid=IwAR1N9WVu05-jOMIeLZVSHoj4ImwkjPU0sJs7unus_HfrG0LtavJl5OFbsfY">click here</a> to read more. <br /></div>               </font>
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&lt;br /&gt;
&lt;em&gt;Barring few cases, large haircuts of 70-90 per cent are continuing to hurt banks&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
While the Centre&amp;rsquo;s decision to frontload capital infusion of Rs 70,000 crore into PSBs has boosted sentiment, unless there is quick resolution of large accounts under IBC, this may achieve little. What is of more concern, is the paltry amount that banks have been realising from the resolution of accounts under IBC.&lt;br /&gt;
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&lt;br /&gt;
The data put out by IBBI pertains to cases where the resolution plan has been approved by the CoC (Committee of Creditors). These may not have translated to actual recoveries for banks as many of the cases have been stuck in endless litigations or even ended up in litigation subsequently.&lt;br /&gt;
&lt;br /&gt;
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Barring few cases, large haircuts of 70-90 per cent are continuing to hurt banks

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&lt;em&gt;Barring few cases, large haircuts of 70-90 per cent are continuing to hurt banks&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
While the Centre&amp;rsquo;s decision to frontload capital infusion of Rs 70,000 crore into PSBs has boosted sentiment, unless there is quick resolution of large accounts under IBC, this may achieve little. What is of more concern, is the paltry amount that banks have been realising from the resolution of accounts under IBC.&lt;br /&gt;
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-The Hindu Business Line

Barring few cases, large haircuts of 70-90 per cent are continuing to hurt banks

While the Centre&amp;rsquo;s decision to frontload capital infusion of Rs 70,000 crore into PSBs has boosted sentiment, unless there is quick resolution of large...&#039;
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-The Hindu Business Line

Barring few cases, large haircuts of 70-90 per cent are continuing to hurt banks

While the Centre&rsquo;s decision to frontload capital infusion of Rs 70,000 crore into PSBs has boosted sentiment, unless there is quick resolution of large..."/>
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                <strong>Poor recoveries under IBC can derail Centre&#039;s Rs. 70,000-cr recap plan -Radhika Merwin</strong></h1>
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                <div align="justify">-The Hindu Business Line<br /><br /><em>Barring few cases, large haircuts of 70-90 per cent are continuing to hurt banks<br /></em><br />While the Centre&rsquo;s decision to frontload capital infusion of Rs 70,000 crore into PSBs has boosted sentiment, unless there is quick resolution of large accounts under IBC, this may achieve little. What is of more concern, is the paltry amount that banks have been realising from the resolution of accounts under IBC.<br /><br />A look at data available on the Insolvency and Bankruptcy Board of India (IBBI) website from the Oct-Dec 2017 quarter (when the first set of resolutions came about), suggests that barring few accounts such as Electrosteel Steels, Bhushan Steel and Binani Cements - where the amount realised by financial creditors as a per cent of their claims has been between 40-100 per cent - the average recoveries in other cases has been poor at 20-25 per cent. This has meant huge haircuts for banks, accentuating the problem of excessive delays.<br /><br />The data put out by IBBI pertains to cases where the resolution plan has been approved by the CoC (Committee of Creditors). These may not have translated to actual recoveries for banks as many of the cases have been stuck in endless litigations or even ended up in litigation subsequently.<br /><br />Of the two list of accounts that the RBI had referred to IBC for resolution - constituting about half of the bad loans in the system - only in a handful of cases such as Bhushan Steel, Monnet Ispat and Electrosteel Steels, banks have actually recovered some amount. In others, while the CoC may have approved the resolution plan, cases are still stuck in litigations. Bhushan Power &amp; Steel, Essar Steel and Alok Industries - are a case in point.<br /><br />Please <a href="https://www.thehindubusinessline.com/money-and-banking/poor-recoveries-under-ibc-can-derail-centres-70000-cr-recap-plan/article29277689.ece?homepage=true&amp;fbclid=IwAR1N9WVu05-jOMIeLZVSHoj4ImwkjPU0sJs7unus_HfrG0LtavJl5OFbsfY" title="https://www.thehindubusinessline.com/money-and-banking/poor-recoveries-under-ibc-can-derail-centres-70000-cr-recap-plan/article29277689.ece?homepage=true&amp;fbclid=IwAR1N9WVu05-jOMIeLZVSHoj4ImwkjPU0sJs7unus_HfrG0LtavJl5OFbsfY">click here</a> to read more. <br /></div>               </font>
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-The Hindu Business Line<br />
<br />
<em>Barring few cases, large haircuts of 70-90 per cent are continuing to hurt banks<br />
</em><br />
While the Centre&rsquo;s decision to frontload capital infusion of Rs 70,000 crore into PSBs has boosted sentiment, unless there is quick resolution of large accounts under IBC, this may achieve little. What is of more concern, is the paltry amount that banks have been realising from the resolution of accounts under IBC.<br />
<br />
A look at data available on the Insolvency and Bankruptcy Board of India (IBBI) website from the Oct-Dec 2017 quarter (when the first set of resolutions came about), suggests that barring few accounts such as Electrosteel Steels, Bhushan Steel and Binani Cements - where the amount realised by financial creditors as a per cent of their claims has been between 40-100 per cent - the average recoveries in other cases has been poor at 20-25 per cent. This has meant huge haircuts for banks, accentuating the problem of excessive delays.<br />
<br />
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<br />
Of the two list of accounts that the RBI had referred to IBC for resolution - constituting about half of the bad loans in the system - only in a handful of cases such as Bhushan Steel, Monnet Ispat and Electrosteel Steels, banks have actually recovered some amount. In others, while the CoC may have approved the resolution plan, cases are still stuck in litigations. Bhushan Power &amp; Steel, Essar Steel and Alok Industries - are a case in point.<br />
<br />
Please <a href="https://www.thehindubusinessline.com/money-and-banking/poor-recoveries-under-ibc-can-derail-centres-70000-cr-recap-plan/article29277689.ece?homepage=true&amp;fbclid=IwAR1N9WVu05-jOMIeLZVSHoj4ImwkjPU0sJs7unus_HfrG0LtavJl5OFbsfY">click here</a> to read more. <br />
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Barring few cases, large haircuts of 70-90 per cent are continuing to hurt banks

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-The Hindu Business Line<br />
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<em>Barring few cases, large haircuts of 70-90 per cent are continuing to hurt banks<br />
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While the Centre&rsquo;s decision to frontload capital infusion of Rs 70,000 crore into PSBs has boosted sentiment, unless there is quick resolution of large accounts under IBC, this may achieve little. What is of more concern, is the paltry amount that banks have been realising from the resolution of accounts under IBC.<br />
<br />
A look at data available on the Insolvency and Bankruptcy Board of India (IBBI) website from the Oct-Dec 2017 quarter (when the first set of resolutions came about), suggests that barring few accounts such as Electrosteel Steels, Bhushan Steel and Binani Cements - where the amount realised by financial creditors as a per cent of their claims has been between 40-100 per cent - the average recoveries in other cases has been poor at 20-25 per cent. This has meant huge haircuts for banks, accentuating the problem of excessive delays.<br />
<br />
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<br />
Of the two list of accounts that the RBI had referred to IBC for resolution - constituting about half of the bad loans in the system - only in a handful of cases such as Bhushan Steel, Monnet Ispat and Electrosteel Steels, banks have actually recovered some amount. In others, while the CoC may have approved the resolution plan, cases are still stuck in litigations. Bhushan Power &amp; Steel, Essar Steel and Alok Industries - are a case in point.<br />
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-The Hindu Business Line

Barring few cases, large haircuts of 70-90 per cent are continuing to hurt banks

While the Centre&rsquo;s decision to frontload capital infusion of Rs 70,000 crore into PSBs has boosted sentiment, unless there is quick resolution of large...'
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Poor recoveries under IBC can derail Centre's Rs. 70,000-cr recap plan -Radhika Merwin

-The Hindu Business Line Barring few cases, large haircuts of 70-90 per cent are continuing to hurt banks While the Centre’s decision to frontload capital infusion of Rs 70,000 crore into PSBs has boosted sentiment, unless there is quick resolution of large accounts under IBC, this may achieve little. What is of more concern, is the paltry amount that banks have been realising from the resolution of accounts under IBC. A look at data available on the Insolvency and Bankruptcy Board of India (IBBI) website from the Oct-Dec 2017 quarter (when the first set of resolutions came about), suggests that barring few accounts such as Electrosteel Steels, Bhushan Steel and Binani Cements - where the amount realised by financial creditors as a per cent of their claims has been between 40-100 per cent - the average recoveries in other cases has been poor at 20-25 per cent. This has meant huge haircuts for banks, accentuating the problem of excessive delays. The data put out by IBBI pertains to cases where the resolution plan has been approved by the CoC (Committee of Creditors). These may not have translated to actual recoveries for banks as many of the cases have been stuck in endless litigations or even ended up in litigation subsequently. Of the two list of accounts that the RBI had referred to IBC for resolution - constituting about half of the bad loans in the system - only in a handful of cases such as Bhushan Steel, Monnet Ispat and Electrosteel Steels, banks have actually recovered some amount. In others, while the CoC may have approved the resolution plan, cases are still stuck in litigations. Bhushan Power & Steel, Essar Steel and Alok Industries - are a case in point. Please click here to read more.