The NCLAT has permitted Canara Bank and Indian Bank to pursue actions against former IL&FS directors, excluding those on the new board, to declare them wilful defaulters. This protection extends to reappointed professional directors. The decision comes after a Rs 90,000 crore debt crisis led to the government appointing a new IL&FS board in October 2018.
from Banking/Finance-Industry-Economic Times https://ift.tt/amt5YjM
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