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The Supreme Court on Monday rejected a plea by Infrastructure Leasing and Financial Services Ltd. against the order of the National Company Law Appellate Tribunal approving the interim distribution of funds of its group company to lenders. The appellate tribunal had on Sept. 19 allowed a petition by the State Bank of India and directed interim distribution of 75% of the amount in the escrow account of Baleshwar Kharagpur Expressway Ltd. to lenders. Baleshwar Kharagpur is an arm of IL&FS Transportation Networks Ltd.
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