IL&FS Transportation Networks, a group company of the troubled IL&FS group, has defaulted on payment of ₹ 20.91 crore due on principal and interest of non-convertible debentures (NCDs) because of insufficient funds.
The principal amount and interest due and payable on March 18, 2019…was not paid to the debenture holders due to insufficient funds, the company said in a filing to stock exchanges.
IL&FS Transportation Networks said principal amount of the defaulted debentures is ₹ 20.80 crore and interest is ₹ 11.62 lakh.
Interest due for the period between March 1 to March 17, 2019 and was not paid.
