IL&FS Says Addressed Aggregate Debt of About Rs32,000 crore
Moneylife Digital Team
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Crisis-hit Infrastructure Leasing & Financial Services (IL&FS) says the group has addressed a debt worth about Rs32,000 crore as of date.
In a statement, IL&FS says, The aggregate debt of Rs32,000 crore addressed comprises around Rs21,600 crore of debt addressed basis cash balances and about Rs10,300 crore of additional net recovery expected from resolution and restructuring applications filed with the Mumbai bench of National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT), the approvals for which are awaited.
The management and the new board of the group maintains its estimates of addressing aggregate debt of over Rs56,000 crore by FY22, out of an overall debt of over Rs99,000 crore as of October 2018.
IL&FS addresses Rs 32,000-cr debt
Mumbai, Jan 22:Debt-laden Infrastructure Leasing and Financial Services group’s (IL&FS) board on Friday said it has addressed Rs 32,000 crore of the group’s overall debt so far.
The board, led by veteran banker Uday Kotak, retained its target of addressing a debt of over Rs 56,000 crore by 2021-22, of an overall debt of over Rs 99,000 crore (as of October 2018).
“The aggregate debt of Rs 32,000 addressed comprises about Rs 21,600 crore of debt addressed basis cash balances,” the group said in a release.
It added that nearly Rs 10,300 crore of additional net recovery is expected from resolution and restructuring applications filed with NCLT (Mumbai) and NCLAT, the approvals for which are awaited.
IL&FS addresses Rs 32,000 crore debt
The board, led by veteran banker Uday Kotak, retained its target of addressing a debt of over Rs 56,000 crore by 2021-22, of an overall debt of over Rs 99,000 crore (as of October 2018). PTI January 22, 2021 / 03:14 PM IST
Debt-laden Infrastructure Leasing and Financial Services group s (IL&FS) board on Friday said it has addressed Rs 32,000 crore of the group s overall debt so far.
The board, led by veteran banker Uday Kotak, retained its target of addressing a debt of over Rs 56,000 crore by 2021-22, of an overall debt of over Rs 99,000 crore (as of October 2018). The aggregate debt of Rs 32,000 addressed comprises about Rs 21,600 crore of debt addressed basis cash balances, the group said in a release.