IL&FS Case: NCLAT does a U-turn, allows lenders to classify group companies as NPAs
Updated : May 02, 2019 04:22 PM IST
In February, the NCLAT had passed an interim order restraining the lenders from classifying either IL&FS or its group companies as an NPAs.
Subsequently, the RBI had moved the NCLAT to reverse the interim order.
The NCLAT has directed the lenders not to withdraw support from the group companies until a resolution is found for IL&FS.
Have you signed up for Primo, our daily newsletter?It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morningYOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more