IL&FS Financial Service defaults on payment obligations

Mumbai : IL&FS Financial Service (IFIN) has defaulted in payment obligations of bank loans (including interest), term and short-term deposits.

According to a BSE filing, the bank loan (including interest) obligations were worth Rs 284.5 crore.

As per the filing, the obligations on term deposit were Rs 103.53 crore and short-term deposit were worth Rs 52.43 crore.

The firm is a Non-Banking Finance Company (NBFC) which provides a range of financial and advisory solutions.

It specialises in infrastructure financing transactions, among other things.