NCLAT allows 22 IL&FS arms to start debt servicing
The National Company Law Appellate Tribunal (NCLAT) has allowed 22 domestic arms of the IL&FS group to service their debt obligations, providing a much needed relief to the lenders.
Additionally, the appellate tribunal lifted the moratorium on debt payments on 133 IL&FS firms incorporated outside the country even as they were allowed to continue with the resolution process.
Besides, a two-member bench headed by Justice S.J. Mukhopadhaya approved the appointment of former Supreme Court judge Justice D.K. Jain to supervise the resolution process of the group.
