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IL&FS approaches NCLAT to recover Rs 145 crore from Gujarat discom

the matter relates to the payment of five IL&FS wind energy companies

Press Trust of India  |  New Delhi 

IL&FS, Infrastructure Leasing and Financial Services, Mumbai
A logo of IL&FS (Infrastructure Leasing and Financial Services) is seen on a building at its headquarters in Mumbai. Photo: Reuters

Debt-ridden firm has approached the National Company Law Appellate Tribunal (NCLAT) seeking the release of around Rs 145 crore held by Gujarat Urja Vikas Nigam.

A two-member bench headed by Chairperson Justice S J Mukhopadhaya has issued notice to the Gujarat Urja Vikas Nigam over the plea.

has directed to list the matter for next hearing on October 15.

According to senior advocate Ramji Srinivasan appearing for IL&FS, the matter relates to payment of five wind energy

IL&FS had approached Gujarat Energy Regulatory Commission regarding this but could not get relief there.

IL&FS Group, which has a total debt of above Rs 90,000 crore, is going through debt resolution plan.

The entire resolution process is based on the principles enunciated in the Insolvency and Bankruptcy Code and is supervised by Justice D K Jain.

First Published: Thu, September 26 2019. 12:30 IST