Supreme Court Upholds Constitutional Validity of Sections 35AA and 35AB of Banking Regulation Act, 1949 and RBI Circular on Stressed Assets Resolution. The Court held that the RBI circular dated 12.02.2018 is valid and not arbitrary, and that the requirement of 100% lender consent for restructuring and mandatory IBC reference for large accounts is within RBI's powers.
2 Apr 2019The present batch of petitions and transferred cases challenged the constitutional validity of Sections 35AA and 35AB of the Banking Regulation Act, 1...
