The National Company Law Appellate Tribunal has directed the new Board of the debt-ridden IL&FS Group to distribute Rs 16,361 crore to its creditors on pro-rata basis.
The interim distribution award of Rs 16,361 crore includes Rs 11,296 crore in cash and Rs 5,065 crore in InvIT units (Infrastructure Investment Trusts). Majority of this is to be distributed to the creditors of three large firms of the group — IL&FS, IFIN and ITNL.
