IL&FS Group to resolve `55K-cr debt by March

IL&FS Group would resolve debt of Rs 55,000 crore by March 2022, the board of the crisis-hit company has stated in its affidavit filed before the NCLAT. While updating the progress of the resolution progress, the IL&FS board, led by Uday Kotak, said Rs 55,000 crore debt would be resolved through asset monetisation, restructuring and insolvency proceeding initiatives. Some of this has already been completed.