Crisis-hit IL&FS lays road map to cut 57% of Rs 99,000 crore debt

By March, Rs 50,500 cr debt to be pared; resolution for Rs 6,650 cr to continue beyond FY21

Infrastructure Leasing & Financial Services (IL&FS) laid down a road map on Monday to resolve 57 per cent of the group’s nearly Rs 1 trillion debt pile. The group said debt worth Rs 50,500 crore would be pared by the end of financial year 2020-21, and resolution of an additional Rs 6,650 crore would continue beyond FY21.

This takes cumulative debt to be addressed to Rs 57,240 crore, or 57 per cent of the group’s total debt of Rs 99,000 crore.

In October also the group had said it expected to resolve, recover, or restructure at least half of the group’s debt,