IL&FS seeks to save group companies from wilful defaulter tag
The new IL&FS board has urgently appealed to NCLAT to halt 11 state-owned lenders from labeling its group firms as wilful defaulters. In its petition, IL&FS said it is aggrieved by the blatant violation and disregard of previous NCLAT orders by banks. IL&FS also charged banks of taking procedural action under the garb of RBI guidelines, and “harassing directors of IL&FS companies”.
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