IL&FS Transportation Networks has defaulted in payment of interest due on non-convertible debentures (NCDs), on account of insufficient funds. The amount of interest due is around Rs 3.34 crore for Tranch XXII (Option I) and Tranch XXII (Option III). The period for which the interest was due on NCDs is between December 15, 2018 and March 14, 2019 (90 days).
IL&FS Transportation Networks is an India-based surface transportation infrastructure company. The company is a developer, operator and facilitator of surface transportation infrastructure projects, taking projects from conceptualization through commissioning to operations and maintenance under public to private partnership on build-operate-transfer (BOT) basis.
