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IL&FS plans to sell 26% stake in NTBCL, DND flyover operator, for debt reduction. Public shareholders involved. NTBCL faces financial crunch, demands funds, awaits Supreme Court decision on toll issue.
IL&FS has decided to monetise this marquee DND flyover, which was built in 2001, as one of the first roads to provide seamless connectivity from Delhi to Noida.
The National Company Law Appellate Tribunal (NCLAT) has directed the National Highways Authority of India (NHAI) not to terminate the concession agreement of Baleshwar Kharagpur Expressway Ltd, an IL&FS group entity, and take appropriate measures for its insolvency resolution. The tribunal noted that the resolution of BKEL, a SPV set up by IL&FS Transportation Networks Limited (ITNL), is in the final stages, and any termination at this stage would further complicate the process.
ILFS on track for 62% recovery, says Uday Kotak : Rashtra News The IL&FS board expects to resolve around Rs 57,000 crore of the Rs 99,000 crore total debt inherited by the directors by March 2022. Overall the Uday Kotak led board expects to complete resolution of Rs 61,000 crore or about 62% of the
Beleaguered non-banking finance company IL&FS is selling commercial properties in GIFT TWO, Gujarat’s GIFT City, as part of its debt resolution process. The properties include offices leased to Tata Consultancy Services.