Approval level eased for corrective action plan

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Following the notification of an ordinance to help the Reserve Bank of India (RBI) tackle practical problems associated with its framework for revitalizing distressed assets in the economy/guidelines on joint lenders’ forum (JLF) and corrective action plan (CAP), the RBI lowered the percentage of affirmative votes needed to finalize and implement the CAP.

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The business law digest is compiled by Nishith Desai Associates (NDA). NDA is a research-based international law firm with offices in Mumbai, New Delhi, Bengaluru, Singapore, Silicon Valley and Munich. It specializes in strategic legal, regulatory and tax advice coupled with industry expertise in an integrated manner.

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