IL&FS pays Rs 28.8k cr debt by FY23; debt resolution target at Rs 61K cr
Crisis-hit infrastructure finance firm IL&FS has paid a total debt of Rs 28,848 crore as of March 31, 2023, according to the latest affidavit filed before the insolvency appellate tribunal NCLAT earlier this week.
The group has resolved debts through monetisation and termination/settlement of payments by its group entities from the concessioning authorities and counter-party to the relevant contract.
"As on March 31, 2023, the debt resolved through such monetisation and termination measures aggregates to Rs 17,894 crores," said the status update report filed before the National Company Law Appellate Tribunal (NCLAT) by the company.
Besides, it has discharged Rs 4,958 crore from the cancellation of the non-fund-based limits availed by its group entities and Rs 5,996 crore through interim distribution.
By the end of FY23, "total debt discharged to creditors of the Respondent No 1 (IL&FS) Group aggregates to Rs 28,848 crore," the affidavit said.
Moreover, the cash balances across