Key Quantitative Figures
The closing balance of the Secured Term Loan from ICICI Bank Limited as on August 30, 2026, is ₹23.60 crores. The Board has approved payment of this entire amount as second interim distribution.
Dates of Action
The Board meeting was held on September 23, 2026. The cut-off date for interest accrual on the loan is October 15, 2018. The meeting commenced at 12:00 PM and concluded at 1:10 PM.
Parties Involved
- ICICI Bank Limited (Financial Creditor)
- IL&FS Transportation & Networks Limited (Holding Company)
- IL&FS (New Board)
- GT (Claim Manager)
- A&M (Resolution Advisors)
- Audit Committee of the Company
- Board of Directors of Noida Toll Bridge Company Limited
Purpose and Context
The Company is part of the IL&FS Group and is undergoing a court-monitored resolution process. As part of this process, the Company is required to accrue interest on the secured term loan up to the cut-off date of October 15, 2018. The second interim distribution is being made based on availability of cash with the company.
Process and Approvals
The revised claim report was prepared by claim manager GT. Resolution advisors A&M prepared the distribution working, which was validated by GT. The revised report and second interim distribution working were approved by competent office. The Audit Committee recommended the payment, and the Board of Directors approved the distribution of ₹23.60 crores.
Conditions and Next Steps
The payment is subject to approval by IL&FS Transportation & Networks Limited (Holding Company) and IL&FS (New Board).