IL&FS Transportation Networks has defaulted in payment of principal and interest due on non-convertible debentures (NCDs), because of insufficient funds. The amount of principal and the interest due are worth Rs 20.80 crore and Rs 11.63 lakh, respectively. The period for which the interest was due on NCDs is from March 01, 2019 to March 17, 2019 (17 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.
