{"id":308036,"date":"2020-01-01T11:24:21","date_gmt":"2020-01-01T05:54:21","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=308036"},"modified":"2020-01-01T11:40:11","modified_gmt":"2020-01-01T06:10:11","slug":"ilfs-to-address-major-portion-of-outstanding-debt-by-july-kotak","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ilfs-to-address-major-portion-of-outstanding-debt-by-july-kotak\/","title":{"rendered":"IL&amp;FS to address major portion of outstanding debt by July: Kotak"},"content":{"rendered":"<p>IL&amp;FS Group is working towards addressing a &#8216;significant portion&#8217; of the outstanding debt of Rs 94,000 crore by July 2020, its chairman Uday Kotak said on Tuesday.<\/p>\n<p>The veteran banker said the company has emerged as a &#8216;test case&#8217; on group-wide resolution of stressed assets.<\/p>\n<p>&#8220;The new board is committed to completing the resolution process at the earliest and is working towards addressing a significant portion of addressable debt by July 2020,&#8221; Kotak informed the shareholders at the 32nd annual general meeting. This is the first AGM conveyed by the new board.<\/p>\n<p>In October 2018, the government had seized control of the debt-trapped company and superseded its board with one led by Kotak.<\/p>\n<p>As of October 8, 2018, the group had an external fund-based debt of Rs 94,216 crore and an additional non- fund-based debt of Rs 5,139 crore.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>IL&amp;FS Group is working towards addressing a &#8216;significant portion&#8217; of the outstanding debt of Rs 94,000 crore by July 2020, its chairman Uday Kotak said on Tuesday. The veteran banker said the company has emerged as a &#8216;test case&#8217; on group-wide resolution of stressed assets. &#8220;The new board is committed to completing the resolution process at the earliest and is working towards addressing a significant portion of addressable debt by July 2020,&#8221; Kotak informed the shareholders at the 32nd annual general meeting. This is the first AGM conveyed by the new board. In October 2018, the government had seized control [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,213,144],"tags":[],"class_list":["post-308036","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-roads-the-pioneer","category-the-pioneer"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/308036","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=308036"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/308036\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=308036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=308036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=308036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}