IL&FS Transportation Networks defaults on NCD interest payment
IL&FS and its subsidiaries have defaulted on many debt instruments over the past months.
The interest due and payable on July 21, 2019 was not paid to the debenture holders due to insufficient funds, the company said in a filing to stock exchanges.
IL&FS Transportation Networks said it had defaulted in payments of interest amount of debentures of Rs 14.62 crore and Rs 11.40 crore.
Infrastructure Leasing & Financial Services (IL&FS) and its subsidiaries have defaulted on many debt instruments over the past few months due to insufficient funds. The group's total debt stood at over Rs 90,000 crore as of October 2018.