 "IL&FS, Infrastructure Leasing and Financial Services, Mumbai")
The Indian infrastructure finance firm behind a rare default last month that is reverberating through the nation's credit markets is delinquent on more borrowings, people familiar with the matter said.
Infrastructure Leasing & Financial Services Ltd., which helped fund India’s longest tunnel, is in default on Rs 3 billion of short-term borrowings taken through so-called inter-corporate deposits from Small Industries Development Bank of India, the people said. Government-backed SIDBI has sought a repayment plan, according to the people, who asked not to be identified because the details are private.
The mounting troubles come after IL&FS missed payment on commercial paper
