IL&FS Group Initiates Major Intermediary Debt Payout
The IL&FS Group has begun a Rs 5,000 crore interim payout to creditors, advancing its resolution strategy. This effort brings the resolved debt to Rs 43,000 crore of the Rs 61,000 crore target. The distribution includes InvIT units and cash, significantly impacting IL&FS, IFIN, and ITNL.
- Country:
- India
The IL&FS Group has commenced an interim distribution, releasing Rs 5,000 crore to eligible creditors as part of its active resolution strategy.
With this action, the Group's total discharged debt reaches approximately Rs 43,000 crore, surpassing 70% of its target of Rs 61,000 crore.
The distribution involves major Group entities such as IL&FS, IFIN, and ITNL, benefiting creditors like Bank of Baroda and SBI through a combination of InvIT units and cash.
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