IL&FS lenders could soon recover Rs 16,372 crore from amber firms
A clutch of lenders including IndusInd Bank and L&T Finance could soon recover Rs 16,372 crore from ‘amber’ companies in the IL&FS Group. Amber companies are those that are able to partially pay off their loans. Of the 13 amber companies, three have been reclassified as ‘green’ or those able to meet all their payment obligations.
In its February 11 order, the NCLAT had permitted ‘green’ companies to service their debt obligations as per the scheduled repayment within the resolution framework. It had also permitted the ‘amber’ companies to make necessary payments only to maintain and preserve them as going concerns.
