InvestorQ : What is the status on the IL&FS resolution?
Juvina Maggie made post

What is the status on the IL&FS resolution?

Answer
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Angel dcosta answered.
3 months ago


IL&FS Group expects to resolve Rs.57,000 crore of debt, or more than half off its Rs.99,000 crore debt burden. Debt of Rs.50,500 crore will be resolved by Mar-21 while another Rs.6500 crore was expected to be resolved after that. As of date, IL&FS has addressed debts worth Rs.17,640 crore via asset sales, debt repayment etc.

IL&FS will set up an INVIT with a target gross value of Rs.13,000 crore, which will include 3 SPVs of restructured debt. However, IL&FS is facing troubles over loans given to NBFCs. The chairman Uday Kotak confirmed that the group resolution framework had received NCLAT approval.