Home / Companies / News / IL&FS resolves Rs 1,460 crore debt in Q2; misses target due to Covid-19

IL&FS resolves Rs 1,460 crore debt in Q2; misses target due to Covid-19

The board is now looking to resolve Rs 13,200 crore of additional debt by December 2020

IL&FS, Infrastructure Leasing and Financial Services, Mumbai

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A logo of IL&FS (Infrastructure Leasing and Financial Services) is seen on a building at its headquarters in Mumbai. Photo: Reuters

BS Reporter

2 min read Last Updated : Oct 24 2020 | 1:06 PM IST

The new board of Infrastructure Leasing and Financial Services (IL&FS) has resolved more than Rs 19,000 crore debt at the end of September 2020, against its target of Rs 26,440 crore. The shortfall of Rs 7,300 crore in target for debt addressed by September 2020 has been rolled over for achievement in subsequent quarters.

“The delay has been mainly caused on account of the significant impact of Covid-19, which has added time and logistical complexities in the process of completing discussions with stakeholders and in obtaining approvals from lenders, regulators and judicial authorities”, the new board said.

In the July

Topics : Coronavirus IL&FS Infrastructure Leasing and Financial Services Securities and Exchange Board of India Sebi

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