IL&FS’s interim distribution RMGSL payout at Rs 1,273cr

NEW DELHI: IL&FS has completed Interim Distribution pay-out for Rapid MetroRail Gurgaon South Limited (RMGSL), an IL&FS Group company. The Group has paid a total of Rs 1,273 crore, of which Rs 1,252 crore has been paid to the secured financial creditors, for RMGSL. The total claims of secured financial creditors - including Canara Bank, Union Bank, Central Bank, Punjab & Sind Bank and India International Finance Company Ltd (UK) - in RMGSL was Rs 1,546 crore. This distribution, thus, translates in a recovery of around 81 per cent to these secured financial creditors. The four PSU banks have got over 75 per cent of the said RMGSL distribution payout. IL&FS Board had approved this pay out in its board meeting held last month.