Govt seeks 3-month relief from legal cases against IL&FS
The government has moved the National Company Law Tribunal seeking a three-month moratorium from legal proceedings in any court against IL&FS and its 348 subsidiaries by any lender. The government recently took management control of IL&FS Group, which has debts of over â¹91,000 crore. It argued that resolution will be difficult if the new board has to face several cases.