IL&FS resolves Rs 52k cr debt so far
Infrastructure Leasing and Financial Services (IL&FS) has resolved Rs 52,200 crore of the debt by October end and will address the remaining Rs 4,800 crore through the course of the year to achieve the repayment target of Rs 61,000 crore by fiscal end, chairman Uday Kotak said. The company is currently sitting on a cash balance of Rs 16,700 crore as of end-October, when it completed the third year of its bankruptcy.