Home Business Debt-ridden IL&FS to file bankruptcy for its offshore firms IIDL, IIDMCC in UAE

Debt-ridden IL&FS to file bankruptcy for its offshore firms IIDL, IIDMCC in UAE

by Economic Times
0 comment 21 views

“After hearing both the sides and on perusal of records, this bench is of the view that the initiation of bankruptcy proceedings is the best option in the given scenario. The same is recorded as prayed for. In the circumstances, the proposal of the applicant for initiation of insolvency proceedings of IIDL and IIDMCC is taken on record,” the NCLT said.

This Debt-ridden IL&FS to file bankruptcy for its offshore firms IIDL, IIDMCC in UAE was originally published on https://economictimes.indiatimes.com/industry/banking/finance/debt-ridden-ilfs-to-file-bankruptcy-for-its-offshore-firms-iidl-iidmcc-in-uae/articleshow/77909919.cms

Related Posts