NCLAT accepts RBI request to be impleaded as ‘party respondent’ in IL&FS case
The National Company Law Appellate Tribunal (NCLAT) has accepted the RBI’s impleadment request as a “party respondent” in the appeal filed by the Centre against NCLT’s historic February 25 order in the IL&FS case.
As the regulatory authority overseeing banks and non-banking finance companies, the central bank had submitted to the NCLAT that it was interested in the outcome of the appeal filed by the Centre in the IL&FS case.
RBI’s request for impleadment as a party respondent was accepted at the NCLAT hearing on Tuesday, and the next date of hearing is now proposed for March 29, said sources close to the development.
