IL&FS completes interim distribution payout of Rs 1,273cr for RMGSL

New Delhi, Jan 9

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 Limited (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.