The National Company Law Appellate Tribunal (NCLAT) has given the green light to Canara Bank and Indian Bank to take action against former IL&FS directors, with the exception of those who joined the new board after October 1, 2018, to classify them as wilful defaulters. This ruling also covers professional directors who have been reappointed to the boards of the current IL&FS and its subsidiaries. The banks have been granted permission to file applications to commence proceedings against the identified former directors.