As forebearance ends, CDR cell sees no fresh referral

Nirmal Gangwal, founder and managing director at Brescon Corporate Advisors — a company that advises clients on turnaround plans — said that since RBI has allowed cases referred before March 31 eligible for the forbearance, joint lenders’ forums (JLFs) are busy clearing the backlog. “Now onwards, most cases would be settled at the JLF level and only a few large cases with too many lenders, would be sent to the cell.”