‘IL&FS on track for 62% debt resolution’
The Hindu
The Group estimates it would resolve about ₹57,000 crore of debt by March
Infrastructure Leasing & Financial Services (IL&FS) said it had so far addressed ₹52,200 crore debt and would achieve an aggregate resolution of ₹61,000 crore out of the total debt of ₹99,000 crore.
This was shared by the new board and management of IL&FS, as part of its periodic update on the progress of the ongoing IL&FS Group resolution process.
“We will be able to achieve 62% of debt recovery,” said Uday Kotak, chairman, IL&FS. “This overall resolution estimate is significantly higher than the average recovery observed under IBC 2016, since its inception. Ours was a most complicated resolution and there is still a long tail,” he added.
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