Pro-rata debt servicing for ‘amber’ companies of IL&FS is learnt to have been discussed at a recent meeting of a high-level committee. At present, companies of IL&FS under the ‘green’ category are servicing debt. Amber companies are those which were capable to service debts of only certain senior secured creditors. They can not service debt of other creditors.
Also, in order to make special purpose vehicles of IL&FS group entities equity positive, favourable interest rates for them is under consideration , sources close to the development said. For this, the IL&FS board is likely to engage with creditors.
