IL&FS resolves Rs 56,943 cr debt as of Sept, addresses 93% of target

Infra lending firm's affidavit says it has reduced the number of entities under it from 302 to 101

Infrastructure Leasing & Financial Services (IL&FS) had resolved debt worth Rs 56,943 crore as of September 2022, the infra lender that collapsed in 2018 has told the National Company Law Appellate Tribunal (NCLAT) in an affidavit.

The amount addressed is almost 93 per cent of the total estimated debt that the firm has said it will resolve. IL&FS has to resolve a debt of Rs 61,000 crore from an outstanding amount of Rs 99,355 crore as of October 2018.

In a previous affidavit, the firm had said it had resolved a debt of Rs 55,000 crore by March 2022.

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