NCLAT allows 22 IL&FS group companies to service debt obligations

70 out of the 169 firms of the IL&FS group have been placed under 3 categories based on their ability to service routine debt

The National Company Law Appellate Tribunal (NCLAT) on Monday allowed 22 companies placed under the “green” category by the new board of Infrastructure Leasing & Financial Services (IL&FS) and the government to start servicing routine debt obligations, according to schedule.

These debt obligations will be done within the resolution framework under the supervision of retired Supreme Court judge Justice D K Jain, a two-member Bench headed by Justice S J Mukhopadhaya of the NCLAT said.

In a meeting that took place last month between the