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<blockquote>Key Highlights: 
<ul>
<li>RBI identifies second list of defaulters</li>
<li>RB I took 12 accounts holding 25% of banks gross NPAs</li>
<li>Banks gross NPAs have reached over Rs 8 lakh crore by Q1FY18</li>
</ul>
</blockquote>
After bringing forward 25% of banking systems stressed assets towards NCLT; looks like the Reserve Bank of India (RBI) is all set to solve another list already. 
According to media reports, RBI has sent to the banks a second list of defaulters for taking it towards National Company Law Tribunal (NCLT) for initiating insolvency and bankruptcy proceedings. 
A Hindustan Times report said, "In a letter, the central bank said these accounts should first be resolved through any of RBI’s schemes before 13 December, failing which cases should be filed against these companies under the Insolvency and Bankruptcy Code (IBC) at the National Company Law Tribunal (NCLT) before 31 December."
<blockquote data-lang="en"><a href="https://twitter.com/hashtag/ManojGaur?src=hash">#ManojGaur</a> to <a href="https://twitter.com/ZeeBusiness">@zeebusiness</a>: <a href="https://twitter.com/hashtag/JPAssociates?src=hash">#JPAssociates</a> not named in 2nd NCLT list. Regret inconvenience to homebuyers. <a href="https://twitter.com/hashtag/Exclusive?src=hash">#Exclusive</a> <a href="https://twitter.com/mihirzee">@mihirzee</a> <a href="https://twitter.com/hashtag/FirstTrade?src=hash">#FirstTrade</a> <a href="https://t.co/jPerRXcjaL">pic.twitter.com/jPerRXcjaL</a>
— Zee Business (@ZeeBusiness) <a href="https://twitter.com/ZeeBusiness/status/902781599518826496">August 30, 2017</a></blockquote>
<script async="" src="//platform.twitter.com/widgets.js" charset="utf-8"></script>Reportedly, it is expected that companies like  East Coast Energy, SEL Manufacturing, Shakti Bhog, Nagarjuna Oil, Jai Balaji Industries, Uttam Galva, Monnet Power, Orchid Chemicals, Ruchi Soya, Unity Infra, Videocon, IVRCL, Castex, Jayaswal Neco and Visa Steel can be part of the second list of RBI. 
On June 13, 2017, as a part of NPA resolution, RBI through its Internal Advisory Committee (IAC)  recognised 12 accounts under Insolvency &amp; Bankruptcy code (IBC). 
For accounts with more than Rs 5000 crore – where 60% or more exposure was already classified as NPA by banks as on FY16 – immediate reference to resolution through IBC will be made. 
Thus, a total of 12 accounts constituting of 25% of gross NPAs qualified for insolvency. 
12 defaulters were - Bhushan Steel, Lanco Infratech, Essar Steel, Bhushan Power &amp; Steel, Alok Industries, Amtek Auto, Monnet Ispat, Electrosteel Steels, Era Infra Engineering, Jaypee Infratech, ABG Shipyard and Jyoti Structures.
Experts believe resolution of stressed cases through IBC will mean higher rate of recoveries would be higher than what banks were experiencing so far under the much more protracted routes of NPA recoveries.
Banks are saddled with bad loans which  has resulted in higher provisions, deterioration in asset quality, higher slippages and thus lower earnings for banks -- not to forget their future lending is at stake.
On year-on-year (YoY) basis, banks have seen a sharp rise of 34.17% to Rs 8,29,335 crore as on June 2017, compared to Rs 6,18,109 crore in the corresponding period of the previous year.
<blockquote>ALSO READ:
<ul>
<li><a href="http://www.zeebiz.com/india/news-five-public-sector-banks-account-for-nearly-half-of-non-performing-assets-21660" target="_blank">Five public sector banks account for nearly half of non-performing assets</a></li>
<li><a href="http://www.zeebiz.com/india/news-rbi-identifies-25-gross-npas-for-insolvency-we-bring-pros-and-cons-17498" target="_blank">RBI identifies 25% gross NPAs for insolvency; we bring pros and cons</a></li>
</ul>
</blockquote>

Key Highlights: RBI identifies second list of defaultersRB I took 12 accounts holding 25% of banks gross NPAsBanks gross NPAs have reached over Rs 8 lakh crore by Q1FY18After bringing forward 25% of banking systems stressed assets towards NCLT; looks like the Reserve Bank of India (RBI) is all set to solve another list already. According to media reports, RBI has sent to the banks a second list of defaulters for taking it towards National Company Law Tribunal (NCLT) for initiating insolvency and bankruptcy proceedings. A Hindustan Times report said, "In a letter, the central bank said these accounts should first be resolved through any of RBI’s schemes before 13 December, failing which cases should be filed against these companies under the Insolvency and Bankruptcy Code (IBC) at the National Company Law Tribunal (NCLT) before 31 December."#ManojGaur to @zeebusiness: #JPAssociates not named in 2nd NCLT list. Regret inconvenience to homebuyers. #Exclusive @mihirzee #FirstTrade pic.twitter.com/jPerRXcjaL— Zee Business (@ZeeBusiness) August 30, 2017Reportedly, it is expected that companies like  East Coast Energy, SEL Manufacturing, Shakti Bhog, Nagarjuna Oil, Jai Balaji Industries, Uttam Galva, Monnet Power, Orchid Chemicals, Ruchi Soya, Unity Infra, Videocon, IVRCL, Castex, Jayaswal Neco and Visa Steel can be part of the second list of RBI. On June 13, 2017, as a part of NPA resolution, RBI through its Internal Advisory Committee (IAC)  recognised 12 accounts under Insolvency &amp; Bankruptcy code (IBC). For accounts with more than Rs 5000 crore – where 60% or more exposure was already classified as NPA by banks as on FY16 – immediate reference to resolution through IBC will be made. Thus, a total of 12 accounts constituting of 25% of gross NPAs qualified for insolvency. 12 defaulters were - Bhushan Steel, Lanco Infratech, Essar Steel, Bhushan Power &amp; Steel, Alok Industries, Amtek Auto, Monnet Ispat, Electrosteel Steels, Era Infra Engineering, Jaypee Infratech, ABG Shipyard and Jyoti Structures.Experts believe resolution of stressed cases through IBC will mean higher rate of recoveries would be higher than what banks were experiencing so far under the much more protracted routes of NPA recoveries.Banks are saddled with bad loans which  has resulted in higher provisions, deterioration in asset quality, higher slippages and thus lower earnings for banks -- not to forget their future lending is at stake.On year-on-year (YoY) basis, banks have seen a sharp rise of 34.17% to Rs 8,29,335 crore as on June 2017, compared to Rs 6,18,109 crore in the corresponding period of the previous year.ALSO READ:Five public sector banks account for nearly half of non-performing assetsRBI identifies 25% gross NPAs for insolvency; we bring pros and cons

RBI is initiating insolvency proceedings for defaulters who account about 60% banks stressed assets. After identifying 12 accounts, RBI has guided banks over second list of defaulters for insolvency.  

NPA crisis: RBI prepares second list of defaulters for insolvency proceedings 

news-npa-crisis-rbi-prepares-second-list-of-defaulters-for-insolvency-proceedings-22765

Key Highlights:  RBI identifies second list of defaulters RB I took 12 accounts holding 25% of banks gross NPAs Banks gross NPAs have reached over Rs 8 lakh crore by Q1FY18 After bringing forward 25% of banking systems stressed assets towards NCLT; looks like the Reserve Bank of India (RBI) is all set to solve another list already.  According to media reports, RBI has sent to the banks a second list of defaulters for taking it towards National Company Law Tribunal (NCLT) for initiating insolvency and bankruptcy proceedings.  A Hindustan Times report said, In a letter, the central bank said these accounts should first be resolved through any of RBI’s schemes before 13 December, failing which cases should be filed against these companies under the Insolvency and Bankruptcy Code (IBC) at the National Company Law Tribunal (NCLT) before 31 December. #ManojGaur to @zeebusiness: #JPAssociates not named in 2nd NCLT list. Regret inconvenience to homebuyers. #Exclusive @mihirzee #FirstTrade pic.twitter.com/jPerRXcjaL — Zee Business (@ZeeBusiness) August 30, 2017 Reportedly, it is expected that companies like  East Coast Energy, SEL Manufacturing, Shakti Bhog, Nagarjuna Oil, Jai Balaji Industries, Uttam Galva, Monnet Power, Orchid Chemicals, Ruchi Soya, Unity Infra, Videocon, IVRCL, Castex, Jayaswal Neco and Visa Steel can be part of the second list of RBI.  On June 13, 2017, as a part of NPA resolution, RBI through its Internal Advisory Committee (IAC)  recognised 12 accounts under Insolvency Bankruptcy code (IBC).  For accounts with more than Rs 5000 crore – where 60% or more exposure was already classified as NPA by banks as on FY16 – immediate reference to resolution through IBC will be made.  Thus, a total of 12 accounts constituting of 25% of gross NPAs qualified for insolvency.  12 defaulters were - Bhushan Steel, Lanco Infratech, Essar Steel, Bhushan Power Steel, Alok Industries, Amtek Auto, Monnet Ispat, Electrosteel Steels, Era Infra Engineering, Jaypee Infratech, ABG Shipyard and Jyoti Structures. Experts believe resolution of stressed cases through IBC will mean higher rate of recoveries would be higher than what banks were experiencing so far under the much more protracted routes of NPA recoveries. Banks are saddled with bad loans which  has resulted in higher provisions, deterioration in asset quality, higher slippages and thus lower earnings for banks -- not to forget their future lending is at stake. On year-on-year (YoY) basis, banks have seen a sharp rise of 34.17% to Rs 8,29,335 crore as on June 2017, compared to Rs 6,18,109 crore in the corresponding period of the previous year. ALSO READ: Five public sector banks account for nearly half of non-performing assets RBI identifies 25% gross NPAs for insolvency; we bring pros and cons