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IL&FS may be in more trouble with SIDBI; more dues unpaid: Report

SIDBI has asked IL&FS for a repayment plan within 10 days

IL&FS, Infrastructure Leasing and Financial Services, Mumbai
A logo of IL&FS (Infrastructure Leasing and Financial Services) is seen on a building at its headquarters in Mumbai. Photo: Reuters

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 ...