Year after collapse, IL&FS on road to recovery; a quarter of debt addressed

A quarter of the beleaguered group's debt has been taken care of

A year after Infrastructure Leasing & Financial Services (IL&FS) collapsed, leading to a crisis in the financial sector, the resolution process set in place by the new board has started yielding dividend, with 10 road projects attracting investor interest and seven wind energy assets being sold.

Last week, the National Company Law Tribunal (NCLT) gave the go-ahead to the sale of seven wind energy assets owned by the IL&FS group to Japanese investor Orix Corp, which already owned 49 per cent in these assets. This sale is expected to fetch the beleaguered group Rs 4,800 crore as Orix decided to