Three IL&FS entities turn green after signing terms sheet with lenders

Three IL&FS group companies have moved to green list after signing term sheet with the lenders to their debts worth Rs 5,071 crore, the NCLAT was informed on Thursday.

The three companies -- Moradabad Bareilly Expressway (MBEL), Jharkhand Road Projects Implementation Company (JRIPIC) and West Gujarat Expressway (WGEL) -- have moved to green list from the amber list of IL&FS group companies.

This will help the IL&FS board in its stated objective of asset monetisation.

A two-member NCLAT bench headed by Chairperson Justice S J Mukhopadhaya has directed to list the case on November 18 for next hearing.

The binding term sheet has a