Govt moves NCLT seeking immunity for directors of IL&FS subsidiaries

The government expects a resolution to the crisis over the next four-five months.

The government on Monday filed an application with the National Company Law Tribunal (NCLT) here, seeking immunity for the newly-appointed directors of the subsidiaries of the crippled IL&FS group from any future adverse outcomes.

It can be noted that soon after taking over the company after its defaults and appointing a new board last October, the government had sought immunity to the newly- appointed six directors of the group from any legal action against them for the past deeds of old directors.

“We are issuing a direction that for the past actions of the suspended directors or any