New Delhi: Debt-ridden IL&FS group has repaid Rs 48,463 crore to its creditors as of September 2025, out of the total Rs 61,000 crore debt resolution target, as per the latest status report filed before insolvency appellate tribunal NCLAT.
This is 7.02 percent higher than Rs 45,281 crore repaid till March 2025.
"As on September 30, 2025, the total debt discharged to creditors of the Respondent No 1 Group (IL&FS) aggregates to Rs 48,463 crore," said the status report affidavit filed by IL&FS.
IL&FS has targeted to repay Rs 61,000 crore from the overall debt of Rs 99,355 crore. With the repayment of Rs 48,463 crore, about 80 percent of the targeted Rs 61,000 crore debt resolution is complete.
IL&FS is paring the debts through asset resolution, interim distribution which includes cash & InviT units, among others.
Out of the total Rs 48,463 crore, “debt resolved (by IL&FS group) through monetisation/ termination/ transfer of assets to InvIT aggregates to Rs 25,893 crore,” the affidavit said.
It is also repaying debts via auto-debits, principal servicing in green entities (profitable IL&FS entities) and release of non-fund-based limits availed by its subsidiaries.
“These efforts (along with discharge of fund-based debt) have resulted in debt resolution of approximately Rs 7,545 crore as on September 30, 2025,” IL&FS group informed NCLAT.
Moreover, IL&FS has also paid Rs 15,026 crore to external creditors through interim distribution.
“Pursuant to NCLAT’s order dated May 31, 2022, and other/further associated orders, as on September 30, 2025, the total debt discharged by way of interim distribution aggregated to Rs 16,898 crore, out of which Rs 15,026 crore has been discharged to external financial creditors,” IL&FS informed.
Besides, the group had a cash balance of Rs 8,575 crore, in which “cash available for interim/ final distribution is Rs 406 crore.”
Of this, Rs 3,735 crore of cash is held for going concern expenses, contingent and external routed claims and the balance Rs 4,108 crore is available in entities undergoing resolution.
Moreover, the value of the InvIT units held by certain IL&FS group entities aggregates to Rs 326 crore.
“Such units have been received by the relevant Respondent No. 1 Group entities pursuant to the transfer of certain InvIT SPVs to the InvIT, including through intra-group distribution,” it said.
At the time of crisis, IL&FS group comprised 302 entities as of October 15, 2018 in which 169 entities were domestic group entities, and the remaining 133 were offshore group entities.
Of these, IL&FS has fully resolved 202 companies in which 76 are domestic firms, and 126 are offshore firms, the affidavit said.
Moreover, applications filed for the resolution of 36 domestic entities are at various stages, pending approvals.
However, application for 62 entities, which include 55 domestic and 7 offshore, are yet to be filed as IL&FS is facing challenges in those cases.
Its subsidiary IL&FS Transportation Networks Ltd (ITNL) has completed the transfer of Chenani Nashri Tunnelway Limited (CNTL) to Singapore-based Cube Highways & Infrastructure II Pte, completing one of the largest asset resolutions.
CNTL operates the Chenani-Nashri Tunnel, now known as Dr. Syama Prasad Mookerjee Tunnel. It is India's longest highway tunnel, a 9.28-kilometer route connecting Chenani and Nashri in Jammu and Kashmir.
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