IL&FS Transportation Networks has defaulted in payment of interest due on non-convertible debentures (NCDs), because of insufficient funds. The amounts of interest due on two NCDs are around worth Rs 1.17 crore and Rs 2.25 crore, respectively.
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.
