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IL&FS Resolution Progress Report as of March 21, 2025

SUCCESSFUL INVIT LISTING MARKS THE COMPLETION OF YET ANOTHER MILESTONES FOR IL&FS IN ACHIEVING ITS DEBT RESOLUTION TARGET

POST DISTRIBUTION, AGGREGATE IL&FS GROUP DEBT DISCHARGED WOULD STAND AT RS 43,000 CRORE

ILFS GROUP INITIATES RS 5,000 CRORE PAYOUT, IN INVIT UNITS AND CASH, UNDER INTERIM DISTRIBUTION

After six years of playing an invaluable role in providing leadership and stability, while resolving one of corporate India's biggest financial crisis, the term of Mr. C S Rajan, Chairman, IL&FS, has come to an end on September 30, 2024, Mr. Rajan will be succeeded by Mr. Nand Kishore, currently MD of IL&FS, as the new Chairman and Managing Director of IL&FS from October 1, 2024 – as approved by MCA, Government of India, and taken on record by the new IL&FS Board. “I am immensely grateful to the MCA, Government of India, for reposing trust in the Board, in guiding the Intricate resolution process and in extending support whenever and whatever necessary”, said Mr. C S Rajan, Chairman, IL&FS.

IL&FS Group has discharged an aggregate debt of approx. Rs 35,650 crore by way of monetization of assets, auto debits by banks and debt repayment (including interim distribution) across entities as of September 30, 2023. The Group has also completed an aggregate payment of approx. Rs 10,000 crore by way of interim distribution across 14 companies - including 2 vertical holding companies (ITNL and IFIN) and the Group holding company (IL&FS Limited).

IL&FS Group has completed an Interim Distribution pay-out of Rs 920 crore in Chenani Nashri Tunnelway Limited (CNTL), a subsidiary of IL&FS Transportation Network Limited (ITNL), an IL&FS Group company. As part of this Interim Distribution, IL&FS Group has paid a total of Rs 920 crore to eligible senior secured creditors of CNTL. The interim distribution has been made ahead of the proposed debt restructuring of CNTL and will be followed by the contemplated transfer of the company to the InvIT - subject to the outcome of pending legal proceedings and requisite approvals.