NCLAT relief for IL&FS Engineering in recovery case
The National Company Law Appellate Tribunal (NCLAT) granted relief to IL&FS Engineering and Construction Company (IECCL), part of the Infrastructure Leasing & Financial Services (IL&FS) group, by dismissing Terra Projects Pvt Ltd's application to modify its October 2018 order.
Terra Projects had requested the modification to commence recovery proceedings against IECCL for approximately Rs 1.5 billion, which stemmed from work completed under a contract between the two parties.
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