IL&FS has initiated a claims-management process for its 70 group entities to clarify financial liabilities and facilitate the settlement process.
In a letter, a copy of which is with BusinessLine , the troubled infrastructure financing company has listed out that it has classified five Indian group entities in the ‘green’ category, which means it is ready to be sold off.
Additionally, two Indian entities have been categorised as ‘red’. The classification of the remaining 11 Indian IL&FS Group companies is presently underway, the affidavit noted. However, these remaining 11 entities account for about Rs. 469.6 crore of the domestic external fund-based debt. Grant Thornton India has been appointed as the claims-management advisor to oversee the process.
