Brief: IL&FS Exec Says Co Is Staring At A 90 Percent Gross NPA

IL&FS Transportation Networks

03/04/2019 15:16

April 3 (Reuters) - IL&FS Non-Executive Chairman Uday Kotak
and Chief Operating Officer N Sivaraman:
    * IL&FS EXEC SAYS COMPANY IN GOOD SHAPE TO THE EXTENT OF
ASSETS
THAT COULD BE SOLD
    * IL&FS EXEC SAYS CO IS STARING AT A 90 PERCENT GROSS NPA
    * IL&FS EXEC SAYS CO IS SITTING WITH A HUGE NUMBER OF
"DELINQUENT"
AND "DIFFICULT" CUSTOMERS
    * IL&FS EXEC SAYS CO WILL USE CRIMINAL PROCESS OR THE
BANKRUPTCY
COURT ROUTE TO BRING CUSTOMERS BACK TO TABLE
    * IL&FS EXEC SAYS DIFFICULT TO PREDICT A TIMELINE OF
RESOLUTION OF
THE BAD LOANS
    * IL&FS EXEC SAYS CO EXPECTING A REASONABLY FASTER AND FAIR
OUTCOME FROM IL&FS RESOLUTION
    * IL&FS EXEC SAYS SINCE NEW MANAGEMENT HAS COME WE HAVE
RECOVERED
9 BILLION RUPEES
    * IL&FS EXEC SAYS ALL WIND ENERGY ENTITIES ARE SERVICING
THEIR
LOANS REGULARLY
    * IL&FS EXEC SAYS THERE ARE SOME COMPANIES THAT MANAGEMENT
HAS
DECIDED WHERE IT WILL GO FOR LIQUIDATION

Further company coverage:  ILFE.NS 

 ((Reuters.Briefs@thomsonreuters.com;))