April 15, 2021
Group addresses debt of ₹43,000 crore till date
About ₹43,000 crore of debt of bankrupt Infrastructure Leasing and Financial Services (IL&FS) has been addressed and the new board and management expects that this would increase to ₹50,000 crore by end of September this year.
“The group has also enhanced its estimates of aggregate debt recovery to ₹61,000 crore – an increase of ₹5,000 crore over its earlier estimate of ₹56,000 crore,” said Uday Kotak, Chairman of the board of IL&FS on Thursday.
The increased estimate represents resolution of nearly 62 per cent of overall fund based and non-fund based Group debt of about ₹99,000 crore, as of October 2018.