IL&FS completes interim distribution payout of Rs 1,273-cr for RMGSL

IL&FS Board had approved this pay out in its board meeting held last month

Gurugram Metro
The Group has paid a total of Rs 1,273 crore, of which Rs 1,252 crore has been paid to the secured financial creditors, for RMGSL
IANS New Delhi
1 min read Last Updated : Jan 09 2023 | 6:12 PM IST

IL&FS has completed Interim Distribution pay-out for Rapid MetroRail Gurgaon South Limited (RMGSL), an IL&FS Group company.

The Group has paid a total of Rs 1,273 crore, of which Rs 1,252 crore has been paid to the secured financial creditors, for RMGSL.

The total claims of secured financial creditors -- including Canara Bank, Union Bank, Central Bank, Punjab & Sind Bank and India International Finance Company Limited (UK) -- in RMGSL was Rs 1,546 crore.

This distribution, thus, translates in a recovery of around 81 per cent to these secured financial creditors.

The four PSU banks have got over 75 per cent of the said RMGSL distribution payout.

IL&FS Board had approved this pay out in its board meeting held last month.

--IANS

san/pgh

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Topics :IL&FSIL&FS group

First Published: Jan 09 2023 | 6:12 PM IST

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