IL&FS Transportation defaults yet again

In a filing to the exchanges, it has informed that it has defaulted on 184-days bond which was issued on May 21.

PTI

November 22, 2018 / 20:44 IST

IL&FS Transportation Networks | The company defaulted on the interest on non-convertible debentures due on August 25, 2020. (Image: Reuters)

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IL&FS Transportation Networks has yet again defaulted on interest payments worth Rs 7.24 crore on non-convertible debentures (NCDs), payable on November 21, 2018.

In a filing to the exchanges, it has informed that it has defaulted on 184-days bond which was issued on May 21.

Earlier this month, it had defaulted on payment of interest worth Rs 2.29 crore on NCDs payable on November 2. It had also defaulted on interest payment of a similar amount on a different NCD, which was due on November 1.

So far the crippled IL&FS group has defaulted on many debt instruments worth over Rs 4400 crore, due to insufficient funds. The group total debt stood at Rs 94,215.6 crore as of October.

PTI

first published: Nov 22, 2018 08:40 pm

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