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NCLAT seeks details of assets and liabilities of 13 IL&FS entities

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Press Trust of India New Delhi
Last Updated : Mar 29 2019 | 7:05 PM IST

The National Company Law Appellate Tribunal (NCLAT) Friday asked the government and the debt-ridden IL&FS to submit details of assets and liabilities of 13 entities of the group.

A two-member bench headed by Chairman Justice S J Mukhopadhaya asked the IL&FS group to submit the details of four 'amber' entities -- Hazribagh Ranchi Expressway Ltd, Jharkhand Road Project Implementation Company Ltd, Moradabad Bareily Expressway Ltd and West Gujarat Expressway Ltd.

It also asked IL&FS to prepare a similar list for the rest nine 'amber' entities of the group.

Under its resolution plan, the government has categorised IL&FS group companies into green, amber and red categories based on their respective financial positions.

Companies classified as 'green' would continue to meet their payment obligations, while 'amber' category firms can meet only operational payment obligations to senior secured financial creditors.

Red category entities are those which cannot meet their payment obligations towards even senior secured financial creditors.

In its order Friday, the NCLAT bench said, "Union of India and ILFS Ltd are allowed to submit details of assets and liabilities of each of aforesaid four entities, including the amount payable to one or other financial creditor and operational creditor."

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First Published: Mar 29 2019 | 7:05 PM IST

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