InvestorQ : What is the recent recovery of Rs.1900 crore by IL&FS?
Rutuja Nigam made post

What is the recent recovery of Rs.1900 crore by IL&FS?

Answer
image
6 months ago
Follow

You are absolutely right that IL&FS has just received Rs.1,925 crore from HSVP, the Haryana SPV that owns the Gurgaon Rail, towards the Gurgaon Rapid Metro system. This rail system is currently being run by the DMRC, which is the Delhi Metro Railway Corporation. Under Supreme Court directive, HSVP was asked to deposit 80% of the total debt of Rs.2,407 crore into an escrow account of the 2 IL&FS subsidiaries.

However, it must be remembered that this is not a new amount realized. This is just an extension of the already discussed figure of Rs.61,000 crore worth of total recovery estimated by the IL&FS board that is being currently headed by Uday Kotak. IL&FS went bust in 2018 under the weight of debt of Rs.99,000 crore after its maturity mismatch came to the fore. Andhra Bank is the lead bank along with PNB, IOB, Indian Bank, Dena Bank and BOI.

1 Views