 "IL&FS subsidiary defaults again, this time on Rs 72.4-mn interest payments")
IL&FS Transportation Networks has yet again defaulted on interest payments worth Rs 72.4 million 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 22.9 million 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 44 billion, due to insufficient funds. The group total debt stood at Rs 942.156 billion as of October.
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