InvestorQ : How did IL&FS manage to recoup close to Rs.32,000 crore out of its outstanding debt?
sara Kunju made post

How did IL&FS manage to recoup close to Rs.32,000 crore out of its outstanding debt?

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Mary Joseph answered.
2 months ago
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As per latest announcements made by the board of IL&FS, which is currently being led by Uday Kotak, the company has already addressed close to Rs.32,000 crore of the group’s aggregate outstanding debt of Rs.100,000 crore. This is as of Dec-20 end.

Board has got approvals for its INVIT which will resolve nearly Rs.13,000 crore of debt and it has approval from the committee of creditors or COC of IL&FS Transportation Networks for transfer of phase-I assets. It may be recollected that the board had given a roadmap for resolving Rs.56,000 crore of aggregate debt by FY22 and with Rs.32,000 crore done and dusted, it has covered 57% o fits journey will on time.

Actually if you look at it the Rs.32,000 crore was the easier part as Rs.21,600 crore was available in cash and Rs.10,300 crore was the net recovery expected from NCLT. It could have done it earlier but the delay was more due to the COVID-19 pandemic, which added time and logistical complexities and also in obtaining necessary approvals from regulators and other stakeholders.

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