IL&FS Board is hopeful that it will be able to address the targetted debt of over Rs 50,000 crore in the current financial year despite the impact of the pandemic.
It is hopeful of achieving the targeted debt resolution of over 50 per cent of the overall debt.
In a statement on Saturday, IL&FS said that the aggregate value of debt being addressed is pegged at Rs 56,300 crore, with over Rs 50,000 crore likely to be addressed by March 2021.
In July, the company had said it expects to address debt of about Rs 57,240 crore, with around Rs 50,500 crore likely to be addressed by March 2021.
The overall debt of the group stood at over Rs 99,000 crore as of October 2018.
As per the last update shared in July 2020, the overall debt addressed based on cash balances stood at Rs 17,640 crore.
By September 2020, an additional debt of approx. Rs 1,460 crore has been addressed, by way of sale of Education business, recovery from non-IL&FS group entities, increase in cash balances and debt repayment in Green entities, increasing the overall debt addressed based on cash balances to Rs 19,100 crore, it said.
