IL&FS total defaults till date stand at Rs 46.4 bn, up 22% from Sept end

Latest default of November 19 was in lieu of two short-term deposit repayments of Rs 573 mn; earlier that day, it had defaulted on Rs 3 billion deposit repayments to MUDRA

Infrastructure Leasing and Financial Services (IL&FS), the beleaguered non-banking financial company (NBFC), has defaulted on debt obligations worth Rs 46.4 billion to date.

The latest default, reported by the company on November 19, was in lieu of two short-term deposit repayments worth Rs 573 million. On Monday, the company said, it had defaulted on principal and interest payments worth Rs 3 billion in respect to deposits from the Micro Units Development and Refinance Agency (MUDRA).

The defaults on debt obligations by the infrastructure-financier began in June this year, when IL&FS defaulted on inter-corporate deposits (ICDs) and commercial papers (CPs) worth