Karnataka Bank om its exposure to IL&FS group
- 5 years ago
The National Company Law Appellate Tribunal (NCLAT) has barred banks and financial institutions from declaring the accounts of IL&FS and its group companies as non-performing assets (NPAs) without its permission from the NCLAT. The decision has been taken in the interest of IL&FS debt resolution plan. Mahabaleshwara MS, managing director and chief executive officer of Karnataka Bank assessed the impact on banks.