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NCLAT to hear plea over moratorium on loan recovery from IL&FS on Jan 28

The appellate tribunal has asked all parties including lenders to file their written submissions before it

Press Trust of India  |  New Delhi 

IL&FS

The National Company Law Appellate (NCLAT) Thursday said it would hear the plea over on dues recovery from and group on January 28.

A two-member bench headed by Justice S J Mukhopadhaya adjourned the matter after briefly hearing the submissions from group and its lenders.

The appellate has asked all parties including lenders to file their written submissions before it.

Last month, lenders of group opposed before the NCLAT the 90-day on loan recovery from the group and its subsidiaries.

On October 15, NCLAT had stayed all proceedings against IL&FS group and its 348 firms till its further orders, over an urgent petition moved by the government.

The had approached the appellate after the bench of (NCLT) turned down its plea to grant 90-day

The NCLT on October 1 suspended the board of IL&FS on government's plea and authorised reconstitution of the board by appointing seven directors two days later.

First Published: Thu, December 20 2018. 15:45 IST
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