NCLAT allows IL&FS to sell subsidiary IPRWL to successful bidder
NCLAT has approved the sale of IL&FS's subsidiary IL&FS Paradip Refinery Water Ltd to a successful bidder, potentially aiding in repaying Rs 1,000 crore debt. Despite IOCL's objections, NCLAT mandated the sale under the resolution framework, ensuring the buyer has relevant technical expertise.