{"id":496248,"date":"2022-06-04T10:34:59","date_gmt":"2022-06-04T05:04:59","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=496248"},"modified":"2022-06-04T12:15:45","modified_gmt":"2022-06-04T06:45:45","slug":"nclat-directs-distribution-of-rs-16361-crore-to-ilfs-creditors-on-pro-rata-basis-2","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/nclat-directs-distribution-of-rs-16361-crore-to-ilfs-creditors-on-pro-rata-basis-2\/","title":{"rendered":"NCLAT directs distribution of Rs 16,361 crore to IL&amp;FS creditors on pro-rata basis"},"content":{"rendered":"<p>The National Company Law Appellate Tribunal has directed the new board of the debt-ridden IL&amp;FS Group to distribute Rs 16,361 crore of cash and InvIT units available across the Group to its creditors on pro-rata basis. <\/p>\n<p>The interim distribution award of Rs 16,361 crore includes Rs 11,296 crore in cash and Rs 5,065 crore in InvIT units (Infrastructure Investment Trusts) and a majority of this is to be distributed to the creditors of three large group firms &#8212; IL&amp;FS, IFIN and ITNL.<\/p>\n<p>&#8220;The interim distribution shall be confined only to the entities as reflected in Annexure-6 except those excluded and for the amount of Rs 16,361 crores i.e Rs 11,296 crore of cash and Rs 5,065 crores of InvIT Units,&#8221; said an order by a two-member NCLAT bench headed by Chairperson Justice Ashok Bhushan.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The National Company Law Appellate Tribunal has directed the new board of the debt-ridden IL&amp;FS Group to distribute Rs 16,361 crore of cash and InvIT units available across the Group to its creditors on pro-rata basis. The interim distribution award of Rs 16,361 crore includes Rs 11,296 crore in cash and Rs 5,065 crore in InvIT units (Infrastructure Investment Trusts) and a majority of this is to be distributed to the creditors of three large group firms &#8212; IL&amp;FS, IFIN and ITNL. &#8220;The interim distribution shall be confined only to the entities as reflected in Annexure-6 except those excluded and [&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":[146,130,178],"tags":[],"class_list":["post-496248","post","type-post","status-publish","format-standard","hentry","category-deccan-herald-newspapers","category-newspapers","category-roads-deccan-herald-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/496248","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=496248"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/496248\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=496248"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=496248"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=496248"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}