10:15 pm
India`s Infrastructure Leasing & Financial Services (IL&FS) was unable to service its obligations on interest payments on non-convertible debentures that were due on Friday, the company said in a statement.
The company was also unable to meet its obligations for a letter of credit payment to IDBI Bank, which were due on Thursday, it said in a stock exchange filing.
In recent days, the company has also said it has been unable to service its commercial paper obligations. On Sept. 15 IL&FS told the exchanges that it had received "notices for delays and defaults" in servicing some inter-corporate deposits.
Separately on Friday, IL&FS said its managing director and chief executive had resigned.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.