IL&FS, the distressed infrastructure financier that collapsed five years ago, is set to make its first payment to creditors. The parent company and a unit of IL&FS Transportation Networks will pay around ₹1,600 crore to lenders and bondholders. This is the first recovery for lenders since the company's board was superseded. In addition, lenders will receive approximately ₹700 crore as an interim distribution from ITNL. The recoveries are expected to directly benefit banks, as the accounts are fully provided for.
from Banking/Finance-Industry-Economic Times https://ift.tt/hl57r2T
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