IL&FS Transportation Networks has defaulted in payment of interest due and redemption on non-convertible debentures (NCDs) because of insufficient funds. The default amount includes principal of Rs 125 crore and interest due of Rs 7.20 crore.
The period for which the interest was due on NCDs is from May 21, 2019 to November 19, 2019 (183 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.
