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IL&FS claims Rs 32,000 crore of its total Rs 99,000 crore debt resolved
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IL&FS claims Rs 32,000 crore of its total Rs 99,000 crore debt resolved
TNN / Jan 23, 2021, 05:38 IST
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MUMBAI: IL&FS has said in its progress update that Rs 32,000 crore of debt has been resolved so far. The group has a total debt of Rs 99,355 crore, of which the board had said that over Rs 56,000 crore would be recovered. Given that most lenders have written off their debt to the troubled group on their books, the resolution will be recorded by them as profit.
According to a research report in 2019, 40% of the group’s debt is with public sector banks and its borrowings accounted for 0.6% of all bank loans in the country.
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Judy Woodruff:
One of the consequences of the chaos from the U.S. Capitol on January 6, a distancing from banks and other businesses from former President Trump.
Paul Solman, for our Making Sense series, looks at the economic hit facing Mr. Trump.
Donald Trump:
I m the king of debt. I m great with debt. Nobody knows debt better than me. I have made a fortune by using debt.
Paul Solman:
In the early 1990s, Donald Trump also lost a fortune using debt. He could face similar problems today.
Tim O’Brien:
Most of his money is tied up in real estate, and real estate that s been hit hard by COVID-19. He has debts north of $1 billion, and a big chunk that debt is coming due soon.