About Rs 3.8 lakh crore worth of loan exposure of Indian banks in 70 large accounts need to be resolved by September 1, 2018 or else they will have to head to NCLT, according to a report by ratings firm Icra. Of these, 34 accounts with Rs 2 lakh crore of exposure belongs to the power sector alone.
Loans worth Rs 4 lakh crore of 40 borrowers from the two lists that the RBI recommended to be referred to NCLT are already being resolved. But there has been limited recovery except for the steel sector, Icra said.
Recoveries in power sector cases are yet to be seen. Legal hurdles are delaying the resolution process under NCLT.