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Accounts of IL&FS, group companies cannot be declared NPA without NCLAT nod

Updated : February 25, 2019 12:48 PM IST

A two-member National Company Law Appellate Tribunal (NCLAT) bench, headed by Chairman Justice SJ Mukhopadhaya, said that this is done in the interest of IL&FS debt resolution plan.
"No IL&FS or its subsidiaries' account to be declared NPA by any financial institution without approval from NCLAT," the appellate tribunal said.
Accounts of IL&FS, group companies cannot be declared NPA without NCLAT nod
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