Substantial recovery likely against IL&FS Rs 94k cr debt: Injeti Srinivas

The NCLAT has approved the entire proposal of the government, which is in the "final stages of resolution"

With multi-pronged strategies in place for IL&FS resolution, the government expects "substantial recovery" against the group's Rs 94,000 crore external debt and the recovered amount could be much more than the sum realised under the insolvency law so far.

Apart from the exercise of recasting the financial statements, an SFIO probe report regarding an IL&FS subsidiary is nearing completion and some matters are before the National Company Law Appellate Tribunal (NCLAT) and the Bombay High Court.

In late 2018, the problems at IL&FS came to light after some group companies defaulted on loan repayments resulting in concerns about overall impact on the