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IL&FS Transportation defaults in payment of interest due & redemption on NCDs

22 Nov 2019 Evaluate

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.

Peers
Company Name CMP
Larsen & Toubro 3654.10
Kalpataru Projects 1344.15
NCC 127.60
Rail Vikas Nigam 194.50
KEC International 343.35
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