- The National Company Law Appellate Tribunal (NCLAT) has given its consent to appoint Justice (Retd) DK Jain to supervise the operation of the resolution process undertaken by debt-laden IL&FS.
- The new board of IL&FS has proposed a multi-pronged strategy to revive the company. Government-owned firms, including LIC and SBI, own nearly 40 per cent of the company. Japan’s Orix Corp has a 23 per cent stake and Abu Dhabi Investment Authority 12 per cent.
