Motilal Oswal
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Motilal Oswal
Finance

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.
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