{"id":272599,"date":"2019-05-03T05:33:21","date_gmt":"2019-05-03T05:33:21","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=272599"},"modified":"2019-05-03T05:33:21","modified_gmt":"2019-05-03T05:33:21","slug":"nclat-allows-banks-to-declare-defaulting-ilfs-accounts-as-npas","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/nclat-allows-banks-to-declare-defaulting-ilfs-accounts-as-npas\/","title":{"rendered":"NCLAT allows banks to declare defaulting IL&amp;FS accounts as NPAs"},"content":{"rendered":"<p>The National Company Law Appellate Tribunal (NCLAT) on Thursday allowed the banks to declare as non-performing assets the accounts of IL&amp;FS and its group companies that have defaulted on payments.<\/p>\n<p>A bench headed by Chairman Justice S J Mukhopadhaya lifted the embargo on the banks to declare the accounts of the debt-ridden IL&amp;FS and its 300 group entities, which are unable to pay their debt. <\/p>\n<p>However, the appellate tribunal has also clarified that although the banks would declare the IL&amp;FS accounts as NPAs but can not initiate recovery process and debit money. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The National Company Law Appellate Tribunal (NCLAT) on Thursday allowed the banks to declare as non-performing assets the accounts of IL&amp;FS and its group companies that have defaulted on payments. A bench headed by Chairman Justice S J Mukhopadhaya lifted the embargo on the banks to declare the accounts of the debt-ridden IL&amp;FS and its 300 group entities, which are unable to pay their debt. However, the appellate tribunal has also clarified that although the banks would declare the IL&amp;FS accounts as NPAs but can not initiate recovery process and debit money.<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,193,136],"tags":[],"class_list":["post-272599","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-roads-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/272599","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\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=272599"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/272599\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=272599"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=272599"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=272599"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}