IBC Effect: over 2100 defaulted companies forced to settle Rs. 83k bank dues

(G.N.S) DT.23 New Delhi The fear of losing control over their companies has prompted promoters, who have defaulted on repayment of loans to banks, to settle their dues of around Rs 83,000 crore before action was initiated under the newly-enacted Insolvency and Bankruptcy Code (IBC). Fearing action under the newly-enacted