IL&FS has repaid Rs 50,387 crore to creditors as of 30 June, nearly 4% more than the Rs 48,463 crore it had repaid as of September last year.

The infrastructure and financial services group has now recovered close to 82.6% of its Rs 61,000 crore debt resolution target.

Including cash and InvIT units still held by the group, the total resolution value has crossed Rs 57,556 crore, which works out to 94% of that target.

Public sector banks and financial institutions alone have been paid around Rs 57,000 crore, or 88.4% of the Rs 91,000 crore they were owed when the government stepped in to take over the crisis-hit group back in 2018.

IL&FS has been clearing its debt through a mix of asset sales, transfers to an infrastructure investment trust, and direct cash payouts. Of the Rs 50,387 crore repaid so far, Rs 26,027 crore came from selling or transferring assets.

Another Rs 16,013 crore went to external creditors through interim cash distributions. The rest came through smaller, routine channels such as auto-debits and payments from its still-operating, profitable units. One recent deal stands out.

The sale of the Chenani Nashri tunnel project to Cube Highways, completed in November last year, resolved Rs 4,112 crore of debt on its own.

On the broader clean-up, IL&FS said 205 of its original 302 group entities have now been fully resolved. Counting entities where resolution plans are already before the courts or already approved, that number rises to 240.

Just 41 entities still need continued court protection from creditors, down sharply from the 302 that needed it when the crisis first broke.

The group still holds Rs 7,259 crore in cash, of which Rs 1,551 crore is set aside for further creditor payouts.

It also holds InvIT units worth Rs 326 crore. With the clean-up now in its final stretch, IL&FS said it remains focused on closing out the remaining cases.

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