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RBI moves NCLAT over order on classification of IL&FS cos' debt as NPA

The RBI is seeking modification of the order passed by the tribunal which has provided moratorium on repayment of loans regarding the accounts of IL&FS and its over 300 group cos

Press Trust of India  |  New Delhi 

IL&FS
IL&FS

The (RBI) has moved the National Company Law Appellate Tribunal (NCLAT) over the order passed regarding classification of debt of group as

A two-member bench, headed by Justice S J Mukhopadhaya, has said that it would hear the on the issue.

The is seeking modification of the order passed by the tribunal which has provided moratorium on repayment of loans regarding the accounts of and its over 300 group

During the proceedings, RBI's counsel said that there was an overlap of power on the issue.

The tribunal has also asked the Ministry of Corporate Affairs about the progress made with respect to resolution of issues.

Further, the tribunal has sought company-wise updates from the (CoC) and (RP).

First Published: Tue, March 19 2019. 17:26 IST
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