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Infrastructure Leasing & Financial Services in November 2018 had defaulted on principal and interest payments of deposits.

IL&FS says unable to meet interest payment obligation

  • IL&FS and some of its group entities in the past few months have defaulted on debt repayments, triggering concerns over liquidity in the financial system
  • The group’s total debt stood at over 94,000 crore as of 8 October, 2018

New Delhi: Infrastructure Leasing & Financial Services Ltd (IL&FS) Thursday said it would be unable to service its obligation in respect of interest of non-convertible debenture due on January 19.

“The company would be unable to service its obligation in respect of the interest of non-convertible debenture due on January 19," the company said in a BSE filing.

Infrastructure Leasing & Financial Services (IL&FS) and some its group entities in the past few months have defaulted debt repayments, triggering concerns over liquidity in the financial system. Infrastructure Leasing & Financial Services in November 2018 had also defaulted on principal and interest payments of deposits. The group’s total debt stood at over 94,000 crore as of 8 October, 2018.