Mumbai: In the latest update in the resolution process, IL & FS has said that the Group will complete 95% of the estimated recovery, amounting to Rs 58,000 Crore, in 202222.
This shows a resolution process will spill numbers up.
Residual entities with low recovery potential.
Earlier this year, the council had revised above the recovery target to RS 61,000 Crore from 56% earlier.
Of the total debt RS 99,355 Crore, Rs 29,030 Crore has been handled through the resolution and recovery of cash, and other crore RS 14,643 is expected from the application submitted by the court.
The Board has projected additional 7,700-crore RS recovery on the 2021 and Rs 6,700 Crore in March 2022.
This will take the overall recovery to Rs 58,000 Crore (95%).
The challenge before the Uday Box LED board will handle 95 group entities, from which only RS 3,000 Crore Recovery is anticipated.
According to the board, there is a limited buyer jagier for these companies and the closure process has long been withdrawn.
Resolution 95 Debt Company IL & FS for FY23 spills
