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October 10, 2018 04:51 PM | Business

NCLT grants immunity to the new IL&FS board

The National Company Law Tribunal (NCLT) on Wednesday granted immunity to the newly appointed board of debt-ridden Infrastructure Leasing & Financial Services (IL&FS), said sources familiar with the matter.

The board led by Kotak Mahindra Bank MD Uday Kotak has made reasonable progress as far as reviving the beleaguered infra finance company is concerned, the sources said.

The board is planning to rope in an independent fact-finding agency to investigate the instances of scam, added the sources.
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