Finance

IL&FS Transportation defaults yet again

Updated : November 23, 2018 06:57 AM IST

Earlier this month, it had defaulted on payment of interest worth Rs 2.29 crore on NCDs payable on November 2. It had also defaulted on interest payment of a similar amount on a different NCD, which was due on November 1.

So far the crippled IL&FS group has defaulted on many debt instruments worth over Rs 4400 crore, due to insufficient funds.

IL&FS Transportation Networks has yet again defaulted on interest payments worth Rs 7.24 crore on non-convertible debentures (NCDs), payable on November 21, 2018.

In a filing to the exchanges, it has informed that it has defaulted on 184-days bond which was issued on May 21.

So far the crippled IL&FS group has defaulted on many debt instruments worth over Rs 4400 crore, due to insufficient funds. The group total debt stood at Rs 94,215.6 crore as of October.

Thane: Mahindra & Mahindra has signed an agreement with Thane Municipal Corporation (TMC) to provide last-mile mobility solutions by deploying its electric vehicles across the city.

The company will deploy its recently launched electric three-wheeler Treo and the mass passenger carrier e-Supro under the plan.

In the first phase it will deploy 100 e-vehicles and the partnership will be active for a five years, the company said here Thursday.

Thane Municipal Corporation will provide the requisite support in enabling the ecosystem and building up the infrastructure and space for installation of charging stations and has made a provision of Rs 30 crore for the same.

Mumbai: Global information solution provider Equifax Analytics has tied up with Payu, a digital payments processor, to provide financial institutions insights on their consumers' transactional behaviour.

The collaboration will help financial institutions get more insights while prospecting new to credit segment, the company said in a release.

Mumbai: Food delivery platform Uber Eats has roped in actoress Alia Bhatt as its brand ambassador. An official statement said Thursday this is a global first for the company where such a move has been undertaken.

City-based audit firm SK Patodia has entered into a tie up with the Netherlands-based Inco business group to facilitate advisory services to entrepreneurs in both countries.

Under the tie-up, Dutch companies can get help to meet compliance requirements, while the local ones can be guided to enter and expand in Europe, an official statement said.

Mumbai: Singaporean lender DBS has partnered with online food and grocery store Bigbasket to launch a co-branded debit card.

It will help new consumers of DBS' Digibank offering earn an assured cashback on every order placed on Bigbasket's app and website, an official statement said.

Indiabulls Mutual Fund has launched a hybrid fund which will invest primarily in equity and equity-linked instruments.

The new fund offering period is till December 6, an official statement said.

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IL&FS Transportation defaults yet again

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