Debt-ridden Infrastructure Leasing and Financial Services (IL&FS) Tuesday said it has initiated claims management process for 70 group entities. The claims process is being run to crystallise the financial and operational liabilities of the group to facilitate distribution of proceeds from the resolution process, it said.
“The new board of IL&FS, as part of the overall resolution process for the group, has initiated a comprehensive claims management process for 70 group entities,” the company said in a statement. The company’s fund-based outstanding debt was Rs 94,216 crore as of October 8, 2018.
