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IL&FS board files affidavit with NCLAT; 3 amber entities may become green

The total debt of three entities that may be reclassified as green is around Rs 5,071 crore - Rs 3,242 crore from secured lenders and Rs 1,829 crore from the unsecured ones

IL&FS board files affidavit with NCLAT; 3 amber entities may become green

In a bid to reclassify amber entities into green, the new board of Infrastructure Leasing & Financial Services (IL&FS) presented the creditors of these entities debt restructuring proposals. However, the creditors did not accept the proposals for five of these.   Meanwhile, three amber entities - Moradabad Bareilly Expressway (MBEL), Jharkhand Road Projects Implementation Company (JRIPIC) and West Gujarat Expressway (WGEL) - are on track to be reclassified as green, once their restructuring plans are executed. These entities have executed binding term sheets with their respective ...