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The Economic Times

Protection against suits can't continue forever, NCLAT tells IL&FS

The National Company Law Appellate Tribunal has asked IL&FS to justify extending its protection from legal proceedings, which currently expires on October 15. NCLAT dismissed claims from Sadbhav Engineering and GKC Projects but demanded reasons for continued protection. If lifted, the order could impact 70 unresolved IL&FS entities under the IBC.

The Economic Times

Sadbhav Engineering seeks debt restructuring; interim debt at two SPVs

The company's chief executive officer appeared before the tribunal, stating that a restructuring package had been proposed to all financial creditors and the court asked to convene a meeting of lenders, as reported by ET on July 2.

The Economic Times

NCLT asks Sadbhav Engg CEO to settle creditor dues

The direction came after the company's chief executive officer appeared before the tribunal and said the company had proposed a restructuring package to all the financial creditors, and was looking to resolve the issue.