NCLAT allows 22 IL&FS companies to pay debt
The National Company Law Appellate Tribunal (NCLAT) on Monday allowed 22 companies of crisis-hit IL&FS group, which were classified in green category based on their financial health, to service their debt obligations.
Besides, a two-member bench headed by Justice S J Mukhopadhaya approved appointment of former Supreme Court judge Justice D K Jain to supervise resolution process of crisis-hit IL&FS and its group companies.
The appellate tribunal also lifted moratorium and allowed 133 IL&FS firms incorporated outside India to continue with the resolution process.
