ILFS resolves Rs 52,200 cr debt, to address Rs 4,800 cr more by Mar: Kotak
Of the targeted Rs 61,000 crore debt resolution by the fiscal-end, IL&FS has resolved Rs 52,200 crore of the same by October-end and will address Rs 4,800 crore more through the course of the year, the management said on Tuesday.
The company is sitting on a cash balance of Rs 16,700 crore as of end-October, when it completed the third year of its bankruptcy.
The company has repaid Rs 14,100 crore of debt this fiscal so far, according to chairman Uday Kotak who added that the company will address Rs 4,800 crore more this fiscal year to meet the repayment target of Rs 61,000 crore by March.
