IL&FS Subsidiary NTDACL Claims Conflict; Wants RoC Coimbatore to Stop Nominee Directors of Parent from Voting on Resolutions

The managing director (MD) of New Tirupur Area Development Corporation Ltd (NTADCL) is understood to have filed a complaint with the registrar of companies (RoC) at Coimbatore, seeking a directive to prevent nominee directors of Infrastructure Leasing & Financial Services (IL&FS) – its parent company – from voting on resolutions of NTADCL, where they have a conflict of interest.

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