IL&FS Group has initiated its largest Interim Distribution pay-out till date – in IL&FS Financial Services Limited (IFIN), an IL&FS Group company.
As part of the interim distribution, IL&FS Group will be paying a total of Rs 3,200 crore to IFIN eligible creditors, that is being distributed in accordance with the NCLAT approved Revised Distribution Framework. Of the total of Rs 3,200 crore, Rs 2,250 crore is being paid to a combination of 28 state-run, private and foreign banks. Another Rs 950 crore will be distributed to over 500 public debenture holders, public funds including EPFO, Army Group Insurance and others.
Source:
Economic Times
