A high-level empowered panel led by the cabinet secretary will hold its first meeting on August 31 to discuss ways to breathe new life into stressed power assets.

The Allahabad High Court on Monday refused to give any interim relief to firms on the Reserve Bank of India’s (RBI) resolution of big-ticket non-performing assets (NPA).

The HC asked the high-level empowered committee on power to decide within two months on the resolution in consultation with RBI.

The order will affect as many as 80 large borrowers as the 180-day grace period granted by RBI ended on Monday. The power firms will now face the bankruptcy tribunal.

First Published:Aug 28, 2018 10:19 PM IST