The settlement Entered by KNCEL and NHAI for Foreclosure of  Concession Agreement relating to Kiratpur was in Accordance with Approved Resolution Framework about ILF&S: NCLAT

The Delhi bench of the National Company Law Appellate Tribunal(NCLAT) has held that settlement entered by Kiratpur Ner Chowk Expressway Limited (KNCEL) and National Highways Authority of India (NHAI) for foreclosure of the concession agreement relating to Kiratpur was by approved resolution framework about Infrastructure Leasing & Financial Services Ltd. (IL&FS) Indian Bank, the Appellant…