IL&FS board revises debt recovery target upwards to Rs 61,000 crore

The board has already addressed debt of Rs 43,100 cr so far and is looking to address about Rs 8,000 cr in the next six months

Infrastructure Leasing and Financial Services (IL&FS) has upped its estimates on the aggregate debt that will be addressed to Rs 61,000 crore from Rs 56,000 crore earlier, in its quarterly update on the resolution process of the assets of the conglomerate.

This will help the firm,  which created a major disruption in the shadow banking sector after it went bust in 2018, resolve 62 per cent of the total overall fund based and non-fund based group debt of around Rs 99,000 crore.

“The upgrade in potentially addressable debt by Rs 5,000 crore has been largely on account of improved valuations,