IL&FS Transportation Networks has informed that the Aditya Birla Finance Limited (ABFL), one of the creditors of the 2 project special purpose vehicles has filed an arbitration application under section 9 of the Indian Arbitration and Conciliation Act, 1996 before the Hon’ble High Court of Delhi. Pending constitution of the arbitral tribunal, the Delhi High Court has passed interim orders dated 18.09.2018, a copy of which was received today, injuncting the Company from transferring or creating third party interest in their unencumbered assets till the next date of hearing fixed on 07.12.2018. The Company is seeking legal advice to defend the aforementioned interim order and take appropriate steps.
The above information is a part of company’s filings submitted to BSE.
