ILFS on track for 62% recovery, says Uday Kotak : Rashtra News The IL&FS board expects to resolve around Rs 57,000 crore of the Rs 99,000 crore total debt inherited by the directors by March 2022. Overall the Uday Kotak led board expects to complete resolution of Rs 61,000 crore or about 62% of the
IL&FS addresses Rs 43,000 cr debt, raises aggregate debt recovery target sify.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sify.com Daily Mail and Mail on Sunday newspapers.
IL&FS addresses Rs 43,000 cr debt, raises aggregate debt recovery target
By IANS |
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IL&FS. (File Photo: IANS). Image Source: IANS News
Mumbai, April 15 : IL&FS Group has addressed a debt of Rs 43,000 crore so far and the management has now raised its aggregate debt recovery estimate to Rs 61,000 crore.
The previous estimate of overall debt recovery was Rs 56,000 crore.
The increased estimate represents a resolution of nearly 62 per cent of overall fund based and non-fund based group debt of around Rs 99,000 crore, as of October 2018, Chairman of IL&FS, Uday Kotak told the media on Thursday.
The aggregate debt of Rs 43,000 crore addressed till date represents nearly 71 per cent of the overall revised targeted recovery value of Rs 61,000 crore and 44 per cent of the overall debt of over Rs 99,000 crore.
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
IL&FS addresses Debt Worth Rs43,000 Crore, Increases Aggregate Debt Recovery Target to Rs61,000 Crore
Moneylife Digital Team
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The crisis-hit Infrastructure Leasing and Finance Limited (ILFS) group says so far it has addressed a debt of about Rs43,000 crore and increased its aggregate debt recovery estimate by Rs5,000 crore to Rs61,000 crore due to improved valuations, better operating performance, and enhanced recoveries from non-group exposure.
Speaking with media persons in a web-meeting, Uday Kotak, chairman of IL&FS, says, The increased estimate represents a resolution of nearly 62% of overall fund based and non-fund-based group debt of around Rs99,000 crore as of October 2018.