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Pension, Provident Funds To Get Top Priority In Repayment From Il&fs: Nclat | Business Standard News

by business-standard.com posted 1week ago 8 views
New board reclassifies three amber companies into green, to hear the matter next on August 8.: The National Company Law Appellate Tribunal (NCLAT) on Friday said pension and provident funds that had invested in Infrastructure Leasing & Financial Services (IL&FS) would have top priority in payment from all categories of companies, whether classified as green, amber or red. While the companies classified under the green category by the new board of IL&FS have been allowed to service their debt to all secured and unsecured creditors, those under amber category had been allowed to service debts of only senior secured creditors.

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