NCLAT directs IL&FS to complete resolution of remaining firms by March 31

Q: How long will it take to read this news story?

The story "NCLAT directs IL&amp;FS to complete resolution of remaining firms by March 31" has 748 words across 19 sentences, which will take approximately 4 - 7 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "NCLAT directs IL&amp;FS to complete resolution of remaining firms by March 31" was covered 1 weeks ago by Business Standard, a news publisher based in India.

Q: How trustworthy is 'Business Standard' news outlet?

Business Standard is a fully independent (privately-owned) news outlet established in 1975 that covers mostly business and finance news. The outlet is headquartered in India and publishes an average of 347 news stories per day. It's most recent story was published 2 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Negative, indicating that people regard this as "bad news".

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #23568320</li><li>URL: https://beamstart.com/news/nclat-directs-ilfs-to-complete-17314887183669</li></ul>

Business Standard Logo Business Standard 1w ago

NCLAT directs IL&FS to complete resolution of remaining firms by March 31 - Business Standard

Quick Summary:

"We, thus, for the time being, are of the view that a direction needs to be issued to IL&FS and a new board to complete the resolution process of 58 entities as captured in paragraph 24 of the affidavit by March 31, 2025," said NCLAT in an order passed on Tuesday.

A two-member bench observed that the resolution process for the remaining 58 entities is at an advanced stage and "considerable progress has been made by IL&FS (Infrastructure Leasing and Financial Services), which is pairing debts through asset resolution and other mechanisms.

The Insolvency appellate tribunal has directed the debt-ridden IL&FS group to complete the resolution of the remaining 58 firms by March 31, 2025 and has extended the moratorium until the date.