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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 ...

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