{"id":261474,"date":"2019-02-27T06:30:27","date_gmt":"2019-02-27T06:30:27","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=261474"},"modified":"2019-02-27T06:43:43","modified_gmt":"2019-02-27T06:43:43","slug":"accounts-of-ilfs-group-firms-cannot-be-declared-npa-without-nclat-nod","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/accounts-of-ilfs-group-firms-cannot-be-declared-npa-without-nclat-nod\/","title":{"rendered":"Accounts of IL&amp;FS, group firms cannot be declared NPA without NCLAT nod"},"content":{"rendered":"<p>No bank or financial institution can declare the accounts of debt-ridden IL&amp;FS and its group companies as non-performing assets (NPAs) without NCLAT\u2019s permission, the appellate tribunal said on Monday.<\/p>\n<p>A two-member National Company Law Appellate Tribunal (NCLAT) bench, headed by Chairman Justice S J Mukhopadhaya, said this is done in the interest of IL&amp;FS debt resolution plan.<\/p>\n<p>\u201c&#8230;We make it clear that due to non-payment of dues by the \u2018Infrastructure Leasing &amp; Financial Services Ltd\u2019 or its entities including the \u2018Amber Companies\u2019, no financial institution will declare the accounts of \u2018Infrastructure Leasing &amp; Financial Services Limited\u2019 or its entities as \u2018NPA\u2019 without prior permission of this Appellate Tribunal,\u201d it said.<\/p>\n<p>The tribunal\u2019s direction came after the hearing of an application moved by the Government, which is going ahead with plan for the resolution of IL&amp;FS group companies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>No bank or financial institution can declare the accounts of debt-ridden IL&amp;FS and its group companies as non-performing assets (NPAs) without NCLAT\u2019s permission, the appellate tribunal said on Monday. A two-member National Company Law Appellate Tribunal (NCLAT) bench, headed by Chairman Justice S J Mukhopadhaya, said this is done in the interest of IL&amp;FS debt resolution plan. \u201c&#8230;We make it clear that due to non-payment of dues by the \u2018Infrastructure Leasing &amp; Financial Services Ltd\u2019 or its entities including the \u2018Amber Companies\u2019, no financial institution will declare the accounts of \u2018Infrastructure Leasing &amp; Financial Services Limited\u2019 or its entities as [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,213,144],"tags":[],"class_list":["post-261474","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-roads-the-pioneer","category-the-pioneer"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/261474","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=261474"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/261474\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=261474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=261474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=261474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}