The National Company Law Appellate Tribunal (NCLAT) has granted Infrastructure Leasing & Financial Services (IL&FS) permission to sell its complete stake in IL&FS Paradip Refinery Water Ltd (IPRWL). This decision comes after Indian Oil Corporation (IOC) delayed a decision on a full acquisition of IPRWL. The approval will enable IL&FS to settle a debt of approximately ₹1,000 crore.
