National Company Law Appellate Tribunal (NCLAT) has approved the interim distribution of ₹16,361 crore to IL&FS creditors at the holding company level. The amount includes ₹11,296 crore in cash and ₹5,065 crore in Infrastructure Investment Trusts. The interim distribution "shall be implemented only after approval by the new board" and "shall take place [on] pro rata basis", NCLAT said.
by Ashley Paul
on 05 Jun