ForumIAS LATEST
- SFG FRC 2027 | Program starts from 19th Dec. 2026 | Admissions open for Entrance Test Click Here to know more →
- Prelims Test Series (PTS) for Prelims 2027 starts 11th Oct. 2026 Click Here to know more →
- [Pre-order] Ethics Redbook 3rd Edition: Delivery starts from 10th October onwards Click Here to Read More →
- 21 Sept. | GS Advance Program (GSAP) for UPSC 2027 Mains starts from 11th Oct. Click Here to Read More →
- The Reserve Bank of India has decided to appeal in the National Company Law Appellate Tribunal(NCLAT) to seek a modification of its earlier order.
- Earlier,NCLAT had restrained banks from declaring accounts of Infrastructure Leasing and Financial Services (IL&FS) and its group companies as non-performing assets (NPA).NPA is a loan or advance for which the principal or interest payment remained overdue for a period of 90 days.
- RBI in its plea has said that there is an overlap of power as RBI is the regulator of banks.On the other hand,NCLAT has said that the central bank cannot restrict the appellate tribunal from passing orders in this issue.
- IL&FS is an infrastructure finance company registered with the Reserve Bank of India as a ‘Systemically Important Non-Deposit Accepting Core Investment Company’.IL&FS has run out of money and,therefore,has been unable to service its repayment obligations which led to a series of defaults on loans,debentures and commercial papers.
- National Company Law Appellate Tribunal (NCLAT) was constituted under the Companies Act, 2013 for hearing appeals against the orders of (a) National Company Law Tribunal(s) (NCLT) (b)Insolvency and Bankruptcy Board of India and (c)Competition Commission of India (CCI).
