HSBC issues notice to IL&FS arm seeking its dues
MUMBAI: In a fresh hit for the lending major IL& FS, Hongkong and Shanghai Banking Corporation ( HSBC) has issued a notice to the former’s arm ITNL Offshore Private Ltd asking it to pay 1 billion Chinese Yuan ($145 million).
A trust deed was signed by ITNL Offshore, IL& FS Transportation (ITNL) as the guarantor and HSBC as a security trustee in January 2018.
