 "IL&FS completes interim distribution payout of Rs 1,273-cr for RMGSL")
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.)
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app