Advertisement
IL&FS has repaid INR 48,463 crore to lenders, achieving nearly 80% of its INR 61,000-crore debt-resolution target. The repayments were driven by asset monetisation, interim distributions including cash and InvIT units, and servicing from profitable subsidiaries. Out of the 302 entities in the group, 202 have been fully resolved, including the transfer of Chenani-Nashri Tunnelway Limited. The group maintains a cash balance of INR 8,575 crore for operational and distribution purposes. Pending resolutions indicate the process is ongoing, reflecting a structured and phased debt-reduction approach.
The IL&FS group has cleared INR 48,463 crore of debt owed to lenders, bringing it close to 80% of its INR 61,000-crore debt-resolution goal. This marks a significant step in the group's efforts to reduce its total debt burden, which originally stood at INR 99,355 crore. The repayment has been accomplished through a combination of asset monetisation, interim distributions, and principal servicing by profitable subsidiaries. Advertisement
Out of its 302 entities at the time of the crisis, 202 have been fully resolved, including 76 domestic and 126 offshore entities. Applications for resolving 36 domestic companies are pending, while resolution applications for another 62 entities (55 domestic and 7 offshore) have not yet been filed. Key milestones include the transfer of Chenani Nashri Tunnelway Limited (CNTL) to a Singapore-based firm, one of the group's major infrastructure assets.
Of the total repaid amount, around INR 25,893 crore came from monetisation or transfer of assets to InvITs, INR 7,545 crore was cleared through auto-debits, principal servicing by profitable group entities, and release of non-fund-based limits used by subsidiaries. Interim distributions to external creditors accounted for roughly INR 15,026 crore.
IL&FS maintains a cash balance of INR 8,575 crore, of which INR 406 crore is available for further distribution. INR 3,735 crore is earmarked for operational and contingent obligations, while the remaining INR 4,108 crore is with entities still under resolution. The group's debt-resolution approach reflects a structured plan combining asset sales, cash settlements, and recovery from profitable entities to systematically reduce its obligations.
The group's progress highlights its methodical approach toward stabilising its financial position and addressing the concerns of lenders and stakeholders. While a substantial portion of its debt has been repaid, the pending resolutions indicate that the process continues and will likely see further repayments and asset transfers in the near future.
Source PTI
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
