IL&FS case: NCLAT hearing on moratorium issue deferred to Dec 20
New Delhi [India], Dec 17 (ANI): The National Company Law Appellate Tribunal (NCLAT) on Monday deferred its hearing to December 20 pertaining to Infrastructure Leasing and Financial Services (IL&FS) case.
ANI
Dec 17, 2018 18:07 IST
New Delhi [India], Dec 17 (ANI): The National Company Law Appellate Tribunal (NCLAT) on Monday deferred its hearing to December 20 pertaining to Infrastructure Leasing and Financial Services (IL&FS) case.
NCLAT was to hear a plea from the Central government for a moratorium on IL&FS. However, it could not take place due to the absence of NCLAT chairperson.
Earlier this month, the Central government had sought a moratorium on recovery of 90 days on loans by IL&FS and its subsidiaries, as per reports.
The National Company Law Tribunal (NCLT) in October this year granted permission to the Central government for superseding the Board of the debt-ridden firm.
It also appointed a six-member panel, headed by Kotak Mahindra Bank Managing Director Uday Kotak to take over the management with immediate effect. IF&LS has over Rs 91,000 crore in debt. (ANI)
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