IL&FS board ups debt recovery target, says Rs 43,000 cr of d

IL&FS board ups debt recovery target, says Rs 43,000 cr of debt addressed


The Rs 43,000 crore of addressed debt includes filings made with the National Company Law Tribunal (NCLT) or the National Company Law Appellate Tribunal (NCLAT) and final orders of the Supreme Court. These applications awaiting legal nods amount to Rs 14,350 crore, while the balance approximate amount of Rs 28,700 crore has been resolved.
Although, the money from the resolved entities is yet to be distributed back to financial creditors. CS Rajan, MD of IL&FS said, "The distribution will take place only at a later point. We are building up all the cash and this cash will upstream to the holding company level. Once the resolution of the holding companies takes place, the funds will be distributed to the creditors of the holding companies. That will be at the last and final stage of resolution."

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