‘IL&FS Tamil Nadu power has Rs 3,000 cr of cash and a hurdle to resolution’
The Rs 9,000-crore debt resolution of IL&FS Tamil Nadu Power Company (ITPCL) has been deadlocked with lenders demanding the distribution of cash with the company before a restructuring plan can be implemented.
Although the broad contours of a restructuring plan have been agreed upon, its implementation hinges on approval from individual lenders as well as the National Company Law Appellate Tribunal (NCLAT), people familiar with the matter said.
