IL&FS Hopes To Resolve Over 60% Of Total Dues
Apr 15 2021, 3:25 PM
April 15 2021, 3:25 PM
April 15 2021, 3:25 PM
The new board of Infrastructure Leasing and Financial Services Group, which started defaulting on debt in August 2018, hopes to resolve about 60% of the entityâs outstanding dues.So far, the group has resolved 186 of the 347 entities within the group, according to the billionaire banker Uday Kotak-led board of the conglomerate. Debt worth Rs 43,100 crore has been resolved so far, short of the Rs 50,500-crore resolution target the boa.
The new board of Infrastructure Leasing and Financial Services Group, which started defaulting on debt in August 2018, hopes to resolve about 60% of the entityâs outstanding dues.
Read more about IL&FS board revises debt recovery target upwards to Rs 61,000 crore on Business Standard. The board has already addressed debt of Rs 43,100 cr so far and is looking to address about Rs 8,000 cr in the next six months
Infrastructure Leasing and Financial Services (IL&FS) on Thursday said it has addressed aggregate group debt of Rs 43,000 crore so far and expects to cross Rs 51,000 crore by September 2021. The debt-laden group has further enhanced its estimates of aggregate debt recovery to Rs 61,000 crore beyond September 2021. In October last year, the group had targeted to address Rs 50,300 crore of its overall debt by March 2021 and over Rs 56,000 crore by FY2022. The group s overall debt stood at Rs 99,000 crore, as of October 2018. The aggregate addressed debt of Rs 43,000 crore comprises Rs 26,800 crore basis completed entity monetisation initiatives and accrued cash balance, IL&FS Group said in a release.
IL&FS ups aggregate debt recovery target to Rs 61,000 crore ANI | Updated: Apr 15, 2021 13:33 IST
Mumbai (Maharashtra) [India], Apr 15 (ANI): The new board and management of IL&FS as part of its quarterly update process on the progress of ongoing group resolution process on Thursday shared that it has addressed aggregate debt of Rs 43,000 crore till date.
The group has further enhanced its estimates of aggregate debt recovery to Rs 61,000 crore - an increase of Rs 5,000 crore over its earlier estimate of Rs 56,000 crore. The increased estimate represents resolution of nearly 62 per cent of overall fund based and non-fund based group debt of Rs 99,000 crore as of October 2018.
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