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Market Movers: SBI overtakes Kotak Bank; Concor s savage call and Pidilite s delightful milestone

IL&FS Hopes To Resolve Over 60% Of Total Dues

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 entity’s 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 entity’s outstanding dues.

IL&FS headquarter: IL&FS expects BKC headquarters, GIFT City towers sale to fetch over Rs 1,350 crore

Synopsis At least a dozen entities have expressed initial interest in buying the IL&FS headquarters and the final bids will show the actual conversion. The deadline for final bids for this asset is at the end of this month (April), but we expect this to spill over to May,” C.S. Rajan, Managing Director, IL&FS told the media at a web conference. The government-appointed management of Infrastructure Leasing & Financial Services (IL&FS) expects the sale of its iconic corporate headquarters in Mumbai’s Bandra-Kurla Complex (BKC) and two commercial towers in Gujarat’s GIFT city to fetch over Rs 1,350 crore.

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