{"id":639645,"date":"2024-03-26T10:08:25","date_gmt":"2024-03-26T04:38:25","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=639645"},"modified":"2024-03-26T10:44:07","modified_gmt":"2024-03-26T05:14:07","slug":"ilfs-seeks-nod-to-sell-insolvent-companies-without-shareholders-approval","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ilfs-seeks-nod-to-sell-insolvent-companies-without-shareholders-approval\/","title":{"rendered":"IL&amp;FS seeks nod to sell insolvent companies without shareholders&#8217; approval"},"content":{"rendered":"<p>IL&amp;FS group has approached the NCLAT to seek permission to sell its stake with a &#8220;haircut&#8221; and without shareholders&#8217; approval in its companies, which are insolvent with unsustainable debts and placed under the Category II list of resolution framework. <\/p>\n<p>The government sought time to file a reply from the National Company Law Appellate Tribunal (NCLAT) in the last hearing earlier this week over IL&amp;FS&#8217; interim application to sell a stake in group entities falling under Category II, whose highest bid amount was lesser than their debts.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>IL&amp;FS group has approached the NCLAT to seek permission to sell its stake with a &#8220;haircut&#8221; and without shareholders&#8217; approval in its companies, which are insolvent with unsustainable debts and placed under the Category II list of resolution framework. The government sought time to file a reply from the National Company Law Appellate Tribunal (NCLAT) in the last hearing earlier this week over IL&amp;FS&#8217; interim application to sell a stake in group entities falling under Category II, whose highest bid amount was lesser than their debts.<\/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":[135,130,168],"tags":[],"class_list":["post-639645","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-roads-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/639645","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=639645"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/639645\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=639645"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=639645"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=639645"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}