50% IL&FS assets on block, 22 group firms servicing loans: Injeti Srinivas

Corporate affairs secretary justifies NCLAT ruling on non-classification group accounts as NPA, saying it is a one-off order, keeping in mind national interest

Fifty per cent of the assets of the beleagured IL&FS group are on the block, corporate affairs secretary Injeti Srinivas said on Tuesday. Speaking on the sidelines of the CII-IBC conference, Srinivas said that out of the 100 IL&FS companies that need classification based on the risk, all would be with high risk or medium risk profiles. About 22 entities of debt-ridden group are servicing their payment obligations.

Srinivas justifies the recent ruling by the National Company Law Appellate Tribunal (NCLAT), saying that it is a one-off order, keeping in mind national interest. 

    

NCLAT on Monday had ruled that accounts