NCLAT asks IL&FS to give details of debt-ridden group’s dues
The National Company Law Appellate Tribunal (NCLAT) Friday asked the government and the IL&FS to provide financial details, including amounts payable to creditors, regarding 13 group entities.
A two-member bench headed by Chairman Justice S J Mukhopadhaya also clarified that there was no stay on the government to proceed with the resolution plan for IL&FS entities.
During the proceedings, the bench said that whatsoever step is taken by the newly-appointed board and the government for resolution of IL&FS and its group companies would have to be approved by the appellate tribunal.
The NCLAT has listed the matter for next hearing on April 8.
The bench also said it would hear the banking regulator RBI on a moratorium against IL&FS group companies at the next hearing.
