The banks should be looking at other options for recovering loans before invoking the IBC, said Corp Affairs Secy Injeti Srinivas.
The proposed waiver would be offered as part of 'Fresh Start' provisions under the Insolvency and Bankruptcy Code.
Companies having CSR prescribed amount below Rs 50 lakh can be exempted from the need of constituting a CSR committee, as per the report.
It is more of a drafting issue and not imposition of an additional penal provision, said Corp Affairs Secy Injeti Srinivas.
The financial system has been grappling with multiple woes in the wake of the turmoil at IL&FS group.
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