{"id":129531,"date":"2017-05-10T11:05:10","date_gmt":"2017-05-10T05:35:10","guid":{"rendered":"http:\/\/www.scconline.com\/blog\/?p=129531"},"modified":"2017-05-10T11:05:10","modified_gmt":"2017-05-10T05:35:10","slug":"rbi-can-direct-banks-to-initiate-insolvency-resolution-process","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2017\/05\/10\/rbi-can-direct-banks-to-initiate-insolvency-resolution-process\/","title":{"rendered":"RBI can direct banks to initiate insolvency resolution process\u00a0"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong>S.O. 1435(E).-<\/strong>In\u00a0exercise of the powers conferred by Section 35AA of the Banking Regulation Act, 1949 (10 of 1949), the Central Government hereby authorises the Reserve Bank of India to issue such directions to any banking company or banking companies which may be considered necessary to initiate insolvency resolution process in respect of a default, under the provisions of the Insolvency and Bankruptcy Code, 2016.<\/p>\n<p style=\"text-align: right;\">Ministry of Finance<\/p>\n<p style=\"text-align: left;\">\n","protected":false},"excerpt":{"rendered":"<p>S.O. 1435(E).-In\u00a0exercise of the powers conferred by Section 35AA of the Banking Regulation Act, 1949 (10 of 1949), the Central Government hereby <\/p>\n","protected":false},"author":91,"featured_media":108551,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,1193],"tags":[],"class_list":["post-129531","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-notifications"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>RBI can direct banks to initiate insolvency resolution 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