The National Company Law Appellate Tribunal (NCLAT) on Monday directed 22 domestic subsidiaries of debt-ridden infrastructure major IL&FS to service their operational and financial debt obligations.
It has also lifted the debt moratorium on 133 foreign group entities to enable them to continue their resolution process, which would be supervised by the retired Supreme Court judge, Justice DK Jain, who has been appointed to oversee the sale process of IL&FS assets so that the group could pare its Rs. 91,000-crore debt.
