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Borrowers beware – banks can now take over companies to recover their debt

by Majmudar & Partners | Jul 10, 2015 | Banking and Finance, Insolvency and Restructuring

Introduction To address various issues surrounding distressed assets in the banking system, on February 26, 2014, the Reserve Bank of India (the “RBI”) issued the Framework for Revitalising Distressed Assets in the Economy (the “Framework”). The Framework, inter alia,...
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