InvestorQ : Is it true that the government is closing in on recovery in the IL&FS case, which had defaulted in mid 2018?
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Is it true that the government is closing in on recovery in the IL&FS case, which had defaulted in mid 2018?

Answer
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Anamika Sodhani answered.
5 months ago


Going by the statements made by the Corporate Affairs Secretary, Injeti Srinivas, it looks like we could be close to a final resolution on the IL&FS case. It may be recollected that the group’s board has already been superseded by MCA and a new board under the leadership of Uday Kotak has been put in place. Currently, IL&FS has Rs.73,000 crore of secured debt and Rs.21,000 crore of unsecured debt. The median recovery under IBC has been around 43 and Srinivas has confirmed that in the case of IL&FS it could be much higher. While the resolution was to be completed by August 2020, it is delayed due to the national lockdown.