Skip to main content

NCLAT asks IL&FS to give details of debt-ridden group's dues

The National Company Law Appellate Tribunal (NCLAT) Friday asked the newly-appointed board of debt-ridden IL&FS to submit details of the group's dues. 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 companies. 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 over 300 group companies would have to be passed 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 moratorium against IL&FS group companies at the next hearing. During the proceedings, senior secured financial creditors of IL&FS asked the tribunal to direct the 'amber' classified companies to discharge their debt liability. Under its resolution plan, the government has categorised IL&FS group ...

from Companies https://ift.tt/2TKuNRv
Labels:

Comments

Post a Comment

Popular posts from this blog

With Trump’s WeChat ban approaching, here are several alternatives

Our mission to help you navigate the new normal is fueled by subscribers. To enjoy unlimited access to our journalism,  subscribe today . WeChat, China’s most popular app, faces an imminent ban in the U.S. , leaving many of its users in a bind. The White House said Friday it would prohibit WeChat , owned by Beijing-based Tencent, from appearing in U.S. app stores starting Sunday at midnight.  Though WeChat has a comparatively minor U.S. presence, it remains a major conduit for communications between Chinese nationals living abroad and their friends and family back home . The app has an average of 19 million million daily active users in the U.S. versus more than a billion worldwide.  WeChat, called Weixin in China, is effectively the operating system for people’s digital lives in China. They use it to pay for services, hail cabs, go shopping, read news, chat, and more. For people seeking to bridge the digital divide between the U.S. and China, WeChat is not easily re...
Post a Comment
Read more