IL&FS case: NCLAT to provide formula for distribution of proceeds among creditors

The tribunal have also asked some of the lenders to file revised framework proposed by the Ministry of Corporate Affairs within a week, stating their position in the resolution of IL&FS group, which has a cumulative debt of over Rs 90,000 crore.

from Banking/Finance-Industry-Economic Times https://ift.tt/3afAqAv