NCLAT grants interim relief to IL&FS, stays proceedings against the company

NCLAT grants interim relief to IL&FS, stays proceedings against the company
Published on
3 min read

Following a series of defaults by IL&FS caused due to severe illiquidity, the company applied under provisions of the Companies Act, 2013 to reorganize its debt. Today, it got interim relief from the National Company Law Appellate Tribunal (NCLAT), in the nature of a moratorium under the Insolvency and Bankruptcy Code (IBC).

Loading content, please wait...
Bar and Bench - Indian Legal news
www.barandbench.com