In a comforting move for lenders, and inching closer to asset monetisation, IL&FS has signed ‘Binding Term Sheet’ with lenders of three entities as part of its resolution process.
The entities for which the binding term sheet has been signed include Moradabad Bareilly Expressway Limited, Jharkhand Road Projects and West Gujarat Expressway Limited.
These three entities have now been moved from ‘amber’ to ‘green’, as per the National Company Law Tribunal (NCLAT) order on July 12.
These entities would also be eligible for getting reliefs already granted to “existing green” entities, as per the order passed by the NCLAT on February 11, 2019.
