The Central government on Monday moved the top corporate tribunal to change the management of the beleaguered IL&FS. According to sources, the matter has been listed in the National Company Law Tribunal (NCLT), Mumbai, for hearing later in the day. The debt-ridden IL&FS has been taken to the NCLT, Mumbai, by the Ministry of Corporate Affairs, the sources told IANS here.

The development comes a day after Congress President Rahul Gandhi alleged that public money was being used to bail-out IL&FS. In a tweet on Sunday, Gandhi alleged that Prime Minister Narendra Modi was bailing out the IL&FS group which has a long-term debt liability of around Rs 91,000 crore via public savings in LIC and the State Bank of India (SBI). The Congress has raised the issue and warned of "an impending 'Lehman Brothers-type' economic crisis facing the country".