IL&FS approaches NCLT to recover ₹186 crore excess pay from ex-directors

Infrastructure Leasing & Financial Services (IL&FS) has approached the National Company Law Tribunal (NCLT) seeking recovery of Rs 185.88 crore "excess managerial remuneration" paid to its former directors and those of two group companies following the recasting of financial statements for five financial years, between 2013-14 and 2017-18. In an application filed before the Mumbai Bench of the NCLT, IL&FS...