Lot of headway being made in IL&FS matter, says corporate affairs secretary

By: |
Published: February 26, 2019 12:39:09 PM

The first phase of resolution for problems faced by IL&FS group is expected to be completed in the next few months, as a lot of headway is being made in addressing the issues, a senior official said Tuesday.

Lot of headway being made in IL&FS matter, says corp affairs secyLot of headway being made in IL&FS matter, says corp affairs secy

The first phase of resolution for problems faced by IL&FS group is expected to be completed in the next few months, as a lot of headway is being made in addressing the issues, a senior official said Tuesday.

On Monday, the National Company Appellate Tribunal (NCLAT) said that no bank or financial institution can declare the accounts of debt-ridden IL&FS and group companies as non-performing assets without its permission.

READ ALSO | VVIP Chopper case: Middleman Christian Michel’s judicial custody extended by one day 

“I think a lot of headway is being made and… in next few months the first phase of resolution should be completed,” Corporate Affairs Secretary Injeti Srinivas said.

He was responding to a query about the progress being made with respect to IL&FS case.

Speaking on the sidelines of an event organised by industry body CII, he emphasised that pro-active steps have been taken regarding the IL&FS matter.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1Amazon adds former PepsiCo CEO Indra Nooyi to board
2Adani group gets into aviation space, wins bids to operate five airports
3Reliance Communications moves NCLAT for fund release by banks