"Those timelines which are there in regular IBC may not be needed in this case because it is a regulator- driven process," the banker told PTI, wishing not be quoted.
"Obviously it is different than any other IBC process. A regulator-driven IBC process will accelerate the entire process," he added.
He said the Section 227 of the IBC has been a boon for the lenders, which will help resolve toxic cases involving NBFCs like DHFL, and hoped that there should not be very many of such cases.The banker said lenders will help the RBI in the process as they know the asset very well and will act as the first point of call for the central bank.
Corporate lawyer Behram Vakil, who was involved in the framing of the IBC, also said the amendments will give more teeth to the law and that DHFL resolution is an "uncharted territory" and expressed confidence that the RBI will move fast on DHFL resolution.
Meanwhile, the banker also defended the lenders' role in the DHFL case so far, hinting that the presence of mutual funds who had their own views on various aspects, prevented the asset from getting resolved till now.
He said DHFL's biggest asset is the loans that it has made, and made it clear that like any other NBFC, it would have done securitisation deals.
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