IL&FS Group Announces Massive ₹50 Billion Payout to Creditors

The IL&FS Group has initiated a substantial ₹50 billion interim distribution payout to its creditors, marking a significant milestone in its ongoing resolution process. This latest disbursement brings the total amount paid back to secured creditors to approximately ₹290 billion. The payout will benefit various stakeholders, including public sector banks, private banks, and public debenture holders. This move aligns with IL&FS's revised distribution framework, approved by the National Company Law Appellate Tribunal (NCLAT) in May 2022, which allows for interim payouts to eligible creditors. The distribution demonstrates IL&FS's commitment to addressing its debt obligations and restoring stakeholder confidence.

 

Sources: Economic Times, Business Standard, Financial Express