IL&FS gets NCLAT approval for Rs16,000 crore interim payout to creditors

The National Company Law Appellate Tribunal (NCLAT) has directed the new board of Infrastructure Leasing & Financial Services (IL&FS) to make interim payout to creditors after prior approval of the new board, the tribunal said in an order.

"With regard to interim distribution, we further direct the new board in addition to compliance of the interim resolution process...only after approval by the new board," the NCLAT order read.

Who Upvoted this Story