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NCLAT adjourns IL&FS case hearing to April 29

IANS  |  New Delhi 

Law Appellate (NCLAT) on Tuesday adjourned to April 29 the hearing on the matter of the debt-ridden (IL&FS).

During the hearing, the observed that IL&FS should distribute funds to smaller creditors, including the investments made by provident funds (PF) and pension funds, in a manner that 80 per cent of their entitled amounts are paid.

The (RBI) said at the hearing that banks' non-performing assets (NPAs or bad loans) should reflect in the books of the banks.

The NCLAT had, in February, ordered that no financial institution would declare any account of the IL&FS group entities as an NPA without the tribunal's prior permission. Last month, the RBI moved the appellate against its February order.

--IANS

rrb/sn/bc

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, April 16 2019. 18:18 IST
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