IL&FS says unable to meet interest payment obligation

Infrastructure Leasing & Financial Services Ltd (IL&FS) Thursday said it would be unable to service its obligation in respect of interest of non-convertible debenture due on January 19.

"The company would be unable to service its obligation in respect of the interest of non-convertible debenture due on January 19," the company said in a BSE filing.

Infrastructure Leasing & Financial Services (IL&FS) and some its group entities in the past few months have defaulted debt repayments, triggering concerns over liquidity in the financial system.

Infrastructure Leasing & Financial Services in November 2018 had also defaulted on principal and interest payments of deposits, The group's total debt stood at over Rs 94,000 crore as of October 8, 2018.