IL&FS Board looks to resolve 57% of total debt of Rs 99,000 cr

While the group's debt resolution amount has been revised upwards, the timeline has seen a delay partly due to Covid-19, with an Italian bidder backing out of a road asset sale deal

IL&FS' new board on Monday said the group looks to resolve debt worth Rs 50,500 crore by the end of the current financial year and revised its estimate for debt resolution upwards to 57 per cent.

The group’s overall debt stands at around Rs 99,000 crore. 

While the group’s debt resolution amount has been revised upwards, the timeline has seen a delay. In an update given in October, the new board had said it expected at least half of the group’s debt to be resolved, recovered or restructured and to do a significant portion of that by March 2020.

The new board, appointed