As reported by Indianmandarins last week, bankers have reportedly scheduled meetings from today (Monday) to finalize their course of action on six of the 12 bad loan accounts for immediate referral to NCLT after the Reserve Bank of India named the largest defaulters to face bankruptcy proceedings. The first set of six troubled accounts belong to Bhushan Steel (Rs 44,478 crore), Essar Steel (Rs 37,284 crore), Bhusan Power and Steel (Rs 37,248 crore), Alok Industries (Rs 22,075 crore), Amtek Auto (Rs 14,074 crore) and Monnet Ispat (Rs 12,115 crore). The other accounts named for bankruptcy action, according to bankers, are Lanco Infra (Rs 44,364.6 crore), Electrosteel Steels (Rs 10,273.6 crore), Era Infra (Rs 10,065.4 crore) Jaypee Infratech (Rs 9,635 crore), ABG Shipyard (Rs 6,953 crore) and Jyoti Structures with a defaulted loan of Rs. 5,165 crore. According to RBI, these 12 accounts owe Rs. 2.5 lakh crore to the system, which constitutes around 25 percent of gross bad loans. Last week, the RBI's internal advisory committee (IAC) had sent the list of 12 accounts, after studying 500 accounts of companies, to bankers for immediate reference under the Insolvency and Bankruptcy Code (IBC). These 12 accounts are led by SBI (six of them), PNB, ICICI Bank, Union Bank, IDBI Bank, and Corporation Bank. Since these are large accounts and involve multiple banks, the lenders will try to take a common view on all administrative requirements before referring these accounts to NCLT. Bankers are worried about the haircut they may have to take if the accounts go into liquidation.