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The Hindu

National

Sanjay Vijayakumar

Dispute between IL&FS and New Tirupur Area Development Corporation over debt repayment

ILFS NCLT USAid

A dispute has arisen between New Tirupur Area Development Corporation Limited (NTADCL) and its shareholder Infrastructure Leasing & Financial Services Ltd. (IL&FS) over debt repayment.

IL&FS has moved the National Company Law Tribunal (NCLT), Mumbai, alleging that NTADCL unilaterally began defaulting on servicing its debt. The NTADCL management has denied the charge.

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