Hyderabad: Infrastructure major Larsen & Toubro (L&T) has filed an insolvency petition against IL&FS Engineering and Construction to recover its dues, according to a court documents. L&T approached the National Company Law Tribunal’s Hyderabad bench against the IL&FS group company on Monday, in its capacity as an operational creditor.
While details such as the total amount and the nature of the debt claimed by L&T were not available, the case has been posted for hearing on Dec 5. IL&FS Engineering Construction is an arm of IL&FS, which is in the midst of a huge liquidity crisis. IL&FS and its arms have been granted interim relief from proceedings filed against the company by banks and other creditors.
The National Company Law Appellate Tribunal has fixed Dec 17 for the next date for hearing on the proposed 90-day moratorium on loans taken by IL&FS and its subsidiaries. A counsel attending the tribunal on behalf of L&T said the company has to file a petition with the Hyderabad tribunal for further direction, though IL&FS group cases are pending at the appellate tribunal.
