Cash-strapped Infrastructure Leasing and Financial Services (IL&FS) Group on Monday said it expects to address over Rs 57,000 crore of debt, which is above 50 per cent of its overall debt of Rs 99,000 crore. Of this, the group estimates to address close to Rs 50,500 crore of its debt by March 2021 and an additional debt of Rs 6,600 crore beyond FY21. However, it did not give any timeline for addressing the additional debt of Rs 6,600 crore.
Speaking about the new plan to address the debt, the group’s non-executive chairman Uday Kotak said, “We are putting out transparently things that we see today and our reasonable estimate of how things look as we go forward. We are committed to this road map and we will go all out as IL&FS board and management to make it happen.”
