IFIN recovers Rs 2,300 cr from third party borrowers, external investments

IFIN had placed 62 non-performing asset (NPA) accounts worth Rs 4,297 crore on sale, which was to be done through the 'Swiss Challenge' route

IL&FS Financial Services, the financial services arm of the beleaguered Infrastructure Leasing & Financial Services (IL&FS) group, has recovered approximately Rs 2,343 crore from its third-party borrowers and external divestments as of November 2021, an affidavit filed by the government on behalf of the group with the National Company Law Appellate Tribunal (NCLAT) said.

Of the total recovery, there are 10 accounts from which the exposure has been fully recovered to the tune of Rs 1,393.6 crore. Further, recovery from external divestment was Rs 400 crore and recovery from resolutions executed with third party borrowers was Rs 458.7 crore. IFIN