IL&FS gets NCLAT approval for Rs16,000 crore interim payout to creditors

https://www.moneylife.in/article/ilfs-gets-nclat-approval-for-rs16000-crore-interim-payout-to-creditors/67389.html

IL&FS


The interim distribution shall be confined only to the entities as reflected in "Annexure-6" except those excluded and for the amount of Rs 16,361 crores -- Rs 11,296 crore of cash and Rs 5,065 crore of InvIT units, the order said.


"With regard to interim distribution, we further direct the new board in addition to compliance of the interim resolution process...only after approval by the new board," the NCLAT order read.

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