IFIN recovers Rs 1,379 cr loan; gross NPA at 97%

Agencies | Updated on: Monday, January 13, 2020, 12:36 AM IST


New Delhi: Crisis-hit IL&FS Financial Services (IFIN) has recovered around Rs 1,379.9 crore, including loans provided and investments made in third party borrowers and to IL&FS Group companies as of November 30.

Post the recovery, IFIN has a cash balance of Rs 1,450 crore which inlcudes and its gross non-performing asset (NPA) by the end of November standing at 97 per cent, according to a recent affidavit filed by the Ministry Corporate Affairs (MCA) at the the NCLAT.

The MCA has submitted the fresh affidavit in the company law tribunal representing the new IL&FS Board which took over the group in 2018.

Out of the total recovery, around Rs 1,309.9 crore came from around 30 third party borrowers, it said.

"The cash balance as on November 30, 2019 stood at Rs 14.5 billion (including other income and net of operating expenses) vis a vis opening balance of Rs 2.37 billion."

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Published on: Monday, January 13, 2020, 12:36 AM IST