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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. ....
An arm of IL&FS has received Rs 1,804 crore as claim settlement from the National Highways Authority of India (NHAI). This will help the subsidiary address its Rs 3,500-crore debt. “The NHAI and ministry of road transport and highways have settled aggregate IL&FS claims of over Rs 1,804 crore across six road projects,” said an official statement. IL&FS Transportation Networks (ITNL), a subsidiary of IL&FS, on March 31, 2021, received a settlement amount of Rs 673 crore for Kiratpur Ner Chowk Expressway (KNCEL) and around Rs 20 crore towards claims for Chenani Nashri Tunnelway (CNTL) from NHAI. The KNCEL project was foreclosed under the ministry of road transport and highways guidelines of March 2019 for incomplete or stalled projects. ....