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Clues by NC Team • 28 Dec 2018, Friday

IL&FS Transportation, a wholly owned subsidiary of debt-ridden infra lending and engineering conglomerate, IL&FS group, informed through an exchange filing that it has defaulted on interest payment of Rs 3.98 crore on two non-convertible debentures (NCDs). The interest payment were due on December 28. Earlier too, the cash-starved company had defaulted on interest payments worth Rs 2.28 crore on NCDs, payable on November 26, Rs 7.24 crore due on November 21 and Rs 2.29 crore maturing on November 2. The government has constituted a board under the chairmanship of Uday Kotak to resolve the financial crisis of the IL&FS group. 

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