Banks seek RBI's special permission to convert Jet Airways' debt into equity
Mumbai, April 19 -- In the absence of general guidelines from the Reserve Bank of India (RBI), State Bank of India (SBI), on behalf of the lenders' consortium, has sought special permission from the central bank for conversion of debt into equity in Jet Airways (India) Ltd. This comes after the Supreme Court quashed the RBI's 12 February circular allowing such conversions in companies with negative net worth....
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