IL&FS clears 35% of debt under new board
Wednesday, 4 October 2023
IL&FS, a company that faced a financial crisis five years ago, has announced that it has cleared 36% of its debt, amounting to Rs 35,660 crore. Another Rs 25,000 crore is in the pipeline to be cleared. The company has also made interim payments to various creditors and debenture holders. Legal action has been initiated against some executives, but it is yet to be completed.
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