NCLAT allows 22 IL&FS group firms to service debt obligations

PTI

Business, Companies

The appellate tribunal also lifted moratorium, allows 133 IL&FS firms incorporated outside India to continue with the resolution process.

The NCLAT was hearing the government plea over IL&FS group. (Photo: File)

New Delhi: The National Company Law Appellate Tribunal on Monday allowed 22 companies of crisis-hit IL&FS group to service their debt obligations.

Besides, a two-member bench headed by Justice S J Mukhopadhaya approved appointment of former Supreme Court judge Justice D K Jain to supervise resolution process of IL&FS group.

The appellate tribunal also lifted moratorium and allows 133 IL&FS firms incorporated outside India to continue with the resolution process.

"We allow (companies under green categories) the board to permit the company to service debt obligations as per schedule," the firm said.

The NCLAT was hearing the government plea over IL&FS group.

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