https://www.taxtmi.com/caselaws?id=290218 Various intervention applications were allowed by the court, representing different creditors. The appointment of Hon'ble Justice (Retd.) D.K. Jain to supervise the resolution process of the IL&FS Group Companies was approved. Offshore Group Entities were excluded from the interim order, with their resolution supervised by Justice Jain. Domestic Group Entities were classified into Green, Amber, and Red categories based on their financial status. Green Entities were permitted to service their debt obligations under the resolution framework. Future resolution plans for Amber and Red Entities were to be discussed, addressing concerns about lenders' actions affecting essential payments for the companies. Further proceedings were scheduled for orders on 12th March 2019 to ensure efficient resolution within a specified timeframe. en-us Mon, 11 Feb 2019 00:00:00 +0530 Tue, 15 Sep 2020 10:43:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290218 Various intervention applications were allowed by the court, representing different creditors. The appointment of Hon'ble Justice (Retd.) D.K. Jain to supervise the resolution process of the IL&FS Group Companies was approved. Offshore Group Entities were excluded from the interim order, with their resolution supervised by Justice Jain. Domestic Group Entities were classified into Green, Amber, and Red categories based on their financial status. Green Entities were permitted to service their debt obligations under the resolution framework. Future resolution plans for Amber and Red Entities were to be discussed, addressing concerns about lenders' actions affecting essential payments for the companies. Further proceedings were scheduled for orders on 12th March 2019 to ensure efficient resolution within a specified timeframe. Case-Laws Companies Law Mon, 11 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290218