Revised financial statements of two IL&FS group firms submitted before NCLT

Revised financial statements of two IL&FS group firms, IL&FS Transportation and IL&FS Financial Services, for the financial years 2013 to 2018 have been submitted before the National Company Law Tribunal (NCLT).

A two-member bench of NCLT Mumbai comprising Prabhat Kumar and Justice Virendra Singh Bisht has taken the submissions of revised financial statements on record.

Earlier on January 1, 2019, the NCLT passed an order permitting reopening and recasting of the financial accounts of three IL&FS group companies - IL&FS Transportation, IL&FS Financial Services and IL&FS Engineering.

The order was passed over an application moved by the central government, which had suspended the board of the debt-ridden Infrastructure Leasing and Financial Services (IL&FS) and appointed six-member panel.

Following the order, a revised account was submitted to NCLT on June 26 and an order was uploaded for the same on Monday.

"In terms of the order dated 01.01.2019 in the