The board of IL&FS has increased the recovery target to Rs 61,000 crore from Rs 56,000 crore. It also said that Rs 43,000-crore debt has already been resolved. The increased target is nearly 62% of the overall fund and non-fund based group debt of about Rs 99,000 crore as of October 2018. The debt of Rs 43,000 crore addressed to date is nearly 71% of the overall revised targeted recovery value and 44% of the overall debt.

Bankrupt infrastructure financier IL&FS Thursday raised its debt recovery target to Rs 6L000 crore or nearly three-fifths of its total financial borrowings. Its collapse in late 2018 had a cascading effect on the non-bank financing industry where cash flow mismatches became manifest after funding dried up in the aftermath of the IL&FS blowout. Last year, the group said it could resolve loans worth Rs 56,000 crore.

The New Board and Management of IL&FS, as part of its quarterly update process on the progress of ongoing Group resolution process, shared that it has addressed aggregate Group debt of Rs 43,000 crore till date. 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. The increased estimate represents resolution of nearly 62% of overall fund based and non-fund based Group debt of approx. Rs 99,000 crore, as of October 2018.

*About ₹ 43,100 Cr of debt stands addressed, including filings made with NCLT / NCLAT and final orders of Supreme Court awaiting compliance - an increase of ₹ 11,200 Cr since last update in Jan ’21. The New Board estimates overall recovery to be around ₹ 61,000 Cr; an upward revision to its previous estimate of ₹ 56,000 Cr -Improved valuations, better operating performance, enhanced recoveries from non group exposure being major drivers.

Debt-laden Infrastructure Leasing and Financial Services (IL&FS) on Wednesday said it has sold its entire stake in IL&FS Environmental Infrastructure & Services (IEISL) and its subsidiaries to EverEnviro Resource Management Private (EverEnviro). This sale will reduce IL&FS' overall debt by Rs 1,200 crore, which is the combined debt of entities under the group's environment businesses, a release said. IL&FS, as the promoter shareholder of IEISL, held 97.54% of equity shares of IEISL. The balance 2.46% was held by IL&FS Employee Welfare Trust.

Infrastructure company IL&FS has sold its stake in environment business to EverEnviro Resource Management, a wholly owned subsidiary of Green Growth Equity Fund managed by EverSource Capital, the company said on Wednesday. IL&FS, as the promoter of IL&FS Environmental Infrastructure and Services Ltd (IEISL), held 97.54% of equity shares. The balance 2.46% was held by IL&FS Employee Welfare Trust. The entire shareholding in IEISL held by IL&FS Group has been transferred to EverEnviro Resource Management.

Debt-laden Infrastructure Leasing & Financial Services (IL&FS) said it sold its entire stake in IL&FS Environmental Infrastructure & Services (IEISL) and its subsidiaries to EverEnviro Resource Management (EverEnviro). This sale will reduce IL&FS' overall debt by Rs 1,200 crore, which is the combined debt of entities under the group's environment businesses, a release said.

IL&FS has sold its stake in Environment business - IL&FS Environmental Infrastructure & Services Limited (“IEISL”) and its subsidiaries - to EverEnviro Resource Management Private Limited (“EverEnviro”), a 100% owned subsidiary of the Green Growth Equity Fund (“GGEF”), India’s leading climate fund, managed by EverSource Capital. IL&FS, as the promoter shareholder of IEISL, held 97.54 per cent of equity shares of IEISL. The balance 2.46 per cent was held by IL&FS Employee Welfare Trust. The entire shareholding in IEISL, held by IL&FS Group, has been transferred to EverEnviro This sale will reduce IL&FS overall debt by Rs 1,200 crore - which is the combined debt of entities under IL&FS’ environment businesses.

The National Highway Authority of India (NHAI) has paid Rs 693 crore to IL&FS Transportation Networks (ITNL) as compensation for contracts related to Kiratpur Ner Chowk Expressway (KNCEL) and Chenani Nashri Tunnelway (CNTL).

IL&FS has received Rs 693 crore in settlement claims for two road projects from the National Highways Authority of India (NHAI), the company said. This is part of the conciliation process of the NHAI to resolve stuck projects. ITNL, a subsidiary of IL&FS, received the settlement amount of Rs 673 crore for Kiratpur Ner Chowk Expressway and about Rs 20 crore towards claims for Chenani Nashri Tunnelway Ltd (CNTL) on March 31.