Recovery of Rs 3,000 cr from 95 IL&FS entities to spill beyond Mar 2022
The resolution of around 95 entities, with an estimated debt recovery of Rs 3,000 crore, of the beleaguered Infrastructure Leasing and Financial Services (IL&FS) group, will take place well beyond March 2022, the board of IL&FS said in its latest update on the resolution process.
According to the Board, by March 2022, around Rs 58,000 crore, or 98 per cent of the estimated amount will be recovered, but a large number of residual entities with low recovery potential would still remain beyond March 2022.
Limited buyer universe, a long-drawn process of closure, and time and costs to keep the IL&FS group as a going concern for completing the resolution are some of the key reasons why the resolution of the residual entities will go well beyond March 2022, the group said.
