75 lakh crore.New Delhi: Countrys largest lender State Bank of India (SBI) expects financial bidding process for resolution of 12 big stressed accounts to be over by the end of this month, said the banks top official.In August, RBI had asked banks to either resolve these stressed China stainless steel fasteners manufacturers accounts or refer them to NCLT by December 31.The Supreme Court today said it would decide at a later stage the application of RBI seeking its nod to file insolvency proceedings before NCLT against the promoter company Jaiprakash Associate Limited (JAL).

After a case is accepted by NCLT, the creditor gets 30 days to hire insolvency practitioners and then the entire process is to be completed in 180 days which takes into account various possibilities including revival of projects or liquidation.78 lakh crore in March 2015.A bench headed by Chief Justice Dipak Misra also directed amicus curie Pawan Shree Agrawal to set up a portal to take note of the grievances of the home buyers of JAL.. SBI is the lead banker in 6 out of 12 large NPAs with total outstanding loan of Rs 1.

Non-performing Assets (NPAs)of public sector banks have increased to Rs 7."Financial bids of Electrosteel and Monnet Ispat have already come. We hope to receive bids for remaining cases during this month itself," SBI Chairman Rajnish Kumar told PTI.33 lakh crore as of June 2017, from Rs 2. Besides, RBI also came out with 28 large stressed accounts in the second list. IBC has defined a time-frame for the resolution and there is a 14-day time period for admission or rejection of a case by NCLT.Other cases which are pending before the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code (IBC) are Essar Steel, Bhushan Steel, Bhushan Power and Steel, Lanco Infra, Alok Industries, Amtek Auto, Era Infra, Jaypee Infratech, ABG Shipyard and Jyoti Structures.

As part of the second list, bankers decided to take all cases but Anrak Aluminium, Jayaswal Neco Industries, Soma Enterprises and Jaiprakash Associates for resolution.RBIs internal advisory committee (IAC) in June identified 12 accounts, each having more than Rs 5,000 crore of outstanding loans and accounting for 25 per cent of total NPAs of banks.The apex court directed realtor JAL to give details of its ongoing housing projects in the entire country while reiterating its direction that its directors shall not alienate their personal properties.

The meeting is the first time WTO members have gathered since Donald Trump’s announcement last week of a 25 per cent tariff on US imports of steel and 10 per cent on aluminum.Some local industries have suggested the government seek an exemption alongside other US allies instead of raising complaints with the World Trade Organisation.Mr Azevedo said Washington maintained that global trade had changed since the WTO, which deals with the global rules of trade between nations, was set up in 1995.Two senior Indian trade ministry officials said a group of WTO members including China, Japan, India and South Korea are self tapping screw manufacturers likely to protest against the US decision to raise import taxes.

“The US wants some upgrade and reforms (in the WTO) and the conversations with the US are going on,” he said.Indian trade minister Suresh Prabhu has said he hopes the meeting, which is also attended by deputy US trade representative Dennis Shea, could push the multilateral process forward after talks in Buenos Aires last December failed amid fears of a trade war. India’s steel and aluminum exports to the US amount to about .Even though the US has declined to declare the steel and aluminum tariffs at the WTO, they can still come under its jurisdiction if countries affected raise complaints.

Meanwhile, Washington has raised complaints at the WTO against India’s export subsidies, estimated to be billion a year, which it claims flout multilateral trading rules.Mr Azevedo told reporters that the global trade environment was quite risky and the trade body had sought an “open and honest” conversation with its members.New Delhi: The US has raised concerns about the functioning of the World Trade Organisation and asked for reforms, WTO director general Roberto Azevedo said on Monday, as global trade tensions increased.

The director general said the outcome of the meeting, which does not have a fixed agenda, here will be “useful to the conversations that we will be having in Geneva to try and move forward on all the items”.5 billion and account for about 2 per cent of that country’s total steel and aluminum imports.They, however, said the final stance would be known only after discussions on Tuesday.

New Delhi is worried that a direct confrontation with the Trump administration could impact the interest of software exports to the US, estimated at nearly 60 per cent of 0 billion annual software exports.“This is a moment we are facing many challenges inside and outside WTO,” he said