 "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.)
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