The aggregate addressed debt of Rs 43,000 crore comprises Rs 26,800 crore basis completed entity monetisation initiatives and accrued cash balance, IL&FS
Group said in a release.
The amount also includes Rs 14,350 crore of additional net recovery expected from resolution and restructuring applications filed with and awaiting approval of the NCLT (Mumbai) and NCLAT and Rs 1,926 crore from Supreme Court verdict passed in favour of Rapid Metro Gurgaon, it said.
The Group has further enhanced its estimates of aggregate debt recovery to Rs 61,000 crore an increase of Rs 5,000 crore over its earlier estimate of Rs 56,000 crore, IL&FS
The upgrade in potentially addressable debt by Rs 5,000 crore (to Rs 61,000 crore) has been largely on account of improved valuations, better operating performance and enhanced recoveries from non-group exposures, it said.
The increased estimate represents resolution of nearly 62 per cent of overall fund based and non-fund based group debt, it said.
The group said the aggregate debt of Rs 43,000 crore addressed till date represents nearly 71 per cent of the overall revised targeted recovery value of Rs 61,000 crore and 44 per cent of the overall debt of over Rs 99,000 crore (as of October 2018).
Out of total 347 entities under IL&FS
Group (as of October 2018) a total of 186 entities stand resolved till date, while the remaining 161 entities are under various stages of resolution, it said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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