Archive · 7 Dec 2025
IL&FS to recover ₹187 crore from ex-directors
IL&FS, a big company that owes a lot of money, is trying to get back ₹187 crore that was paid too much to some of its old leaders.
The company and its two smaller companies, IFIN and ITNL, are asking for this money back because they found out that the company was actually losing money, not making a profit, during the time these leaders were in charge.
The company is also fixing its old financial records to show the real numbers.
So far, IL&FS has paid back ₹48,463 crore to the people it owes money to, and it plans to pay back even more.
Some of the old leaders have agreed to pay the money back, but others are saying they don't have to.
The company is going to court to try to get the money back from everyone who was paid too much.
IL&FS to recover ₹187 crore excess remuneration paid to former directors and subsidiaries IFIN and ITNL.
Financial statements for 2018-19 and 2019-20 to be revised, with approval from NCLT.
Recast financial statements for 2013-14 to 2017-18 revealed a loss of ₹9,600 crore.
IL&FS has discharged ₹48,463 crore to creditors as of September 2025, aiming to resolve ₹61,000 crore of debt.
Two independent directors have voluntarily repaid the amounts sought, while others are contesting the demand.
- Who
- IL&FS Group and its subsidiaries IFIN and ITNL
- What
- Recovery of ₹187 crore excess remuneration paid to former directors
- When
- Process initiated in 2025, with financial statements to be finalized by December 31, 2025
- Where
- Before the National Company Law Tribunal (NCLT)
- Why
- To recover excess managerial remuneration paid to former directors during whose tenure financial statements were manipulated
IL&FS
Former Directors
Recovery of Excess Remuneration
IL&FS
IL&FS is initiating legal action to recover ₹187 crore in excess remuneration paid to former directors and subsidiaries IFIN and ITNL, as the payments were made during a period of financial manipulation and losses.
Former Directors
Some former directors have voluntarily repaid the amounts sought, while others are contesting the demand, arguing that the payments were made in accordance with the terms of their appointments and the financial statements at the time.
- Amount to recover
- ₹187 crore
- Period of recast financial statements
- FY 2013-14 to FY 2017-18
- Loss found in recast statements
- ₹9,600 crore
- Debt discharged as of September 2025
- ₹48,463 crore
- Total external debt outstanding
- ₹99,355 crore
- Target debt resolution
- ₹61,000 crore (61.39% of total debt)
- Number of entities in IL&FS Group
- 302 (169 domestic, 133 offshore)
- Debt availed by key holding companies
- ₹48,000 crore (51% of total debt)
Sources
IL&FS to initiate process before NCLT to recover ₹187 cr excess remuneration paid to ex-directors
IL&FS to initiate process before NCLT to recover ₹187 cr excess remuneration paid to ex-directors
IL&FS To Initiate Recovery Of Rs 187 cr Excess Remuneration Paid to Its Former Directors
