NCLAT allows IL&FS to sell subsidiary IPRWL to successful bidder
Sat, Nov 30, 2024 6:07 PM

NCLAT allows IL&FS to sell subsidiary IPRWL to successful bidder

A Flip by Shubhangi Gupta
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Insolvency appellate tribunal NCLAT has given a go-ahead to debt-ridden IL&FS group for the sale of its subsidiary IL&FS Paradip Refinery Water Ltd (IPRWL) to a successful bidder. According to reports, this may enable IL&FS to repay a debt of around Rs 1,000 crore. IPRWL was set up to meet water requirement of the 15 MTPA Paradip Refinery Project developed by IOC in Odisha.

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