The government takes ILFS to NCLT seeking dismissal of the board

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IL&FS headquarters at the Bandra Kurla Complex in Mumbai
IL&FS headquarters at the Bandra Kurla Complex in Mumbai. Image - Sumedh Kadoo.

Facing mounting criticism from the Congress party, the Central government has moved the top corporate tribunal in the country for a change of management at the beleaguered IL&FS.

According to sources, the matter has been listed in the National Company Law Tribunal, Mumbai, for hearing on Monday.

The debt-ridden IL&FS has been taken to the NCLT, Mumbai by the Ministry of Corporate Affairs.