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IL&FS Transportation defaults on interest payments on various NCDs

IL&FS Transportation Networks has defaulted in payment of the interest around Rs 17.56 crore on various non-convertible debentures (NCDs), because of insufficient funds.

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.