IL&FS Seeks Recovery of Excess Remuneration Amid Financial Overhaul

The IL&FS Group is proceeding with steps to recover Rs 187 crore in excess remuneration from former directors and subsidiaries. Financial statements for FY 2018-19 and FY 2019-20 are being revised, as authorized by NCLT. The group has discharged Rs 48,463 crore to creditors and aims for an overall debt resolution of Rs 61,000 crore.

The IL&FS Group is taking decisive action to recover Rs 187 crore in excess remuneration paid to former directors and two subsidiaries, who have resisted returning the disputed funds. This step is part of the legal process initiated before the insolvency tribunal NCLT, according to a recent affidavit submitted to the NCLAT.

Intricate financial revisions are underway for fiscal years 2018-19 and 2019-20, with statutory auditors finalizing the revamped statements, following approval from the NCLT. Previous financial audits revealed a Rs 9,600 crore loss due to outdated profit reports, prompting legal steps to rectify matters.

In the broader context of its financial strategy, IL&FS has settled Rs 48,463 crore with creditors as of September 2025. The organization is steadfast in achieving a total debt resolution target of Rs 61,000 crore, representing significant progress in stabilizing its fiscal position.

(With inputs from agencies.)