The IL&FS Group stated that it would resolve debt totalling Rs 550 billion by March 2022 through asset monetisation, restructuring, and insolvency proceeding initiatives, in its affidavit filed before the National Company Law Appellate (NCLAT). As of October 8, 2018, IL&FS had a total outstanding debt of Rs 993.55 billion, of which Rs 455 billion will be resolved through debt resolution initiatives by March 2022. Of this, debt of Rs 205 billion has already been resolved through monetisation, Rs 40 billion by way of debt discharged and Rs 213.5 billion in cash available across companies and infrastructure investment trust (InvIT) units due to be issued. In addition, the board anticipates resolving Rs 53 billion through various transactions sanctioned by the appropriate courts/tribunals and closure of pending transactions, as well as Rs 42 billion through resolution applications filed with courts and pending approval. The board informed that it intended to settle 29 of 60 entities through an entity monetisation procedure; 12 road assets under InvIT; three assets where the concession was terminated; and 30 entities where it commenced closure or insolvency proceedings.