MUMBAI: IL&FS Financial Services on Thursday said it has defaulted on seven fresh payment obligations worth Rs 395.46 crore.
The company was unable to service its obligations in respect of bank loans (including interest), term deposit and short term deposit, it said in a regulatory filing.
These defaults were in respect of five bank loans (including interest) totalling Rs 239.50 crore, term deposit obligation of Rs 103.53 crore and short term deposit worth Rs 52.43 crore.
The short term deposit of Rs 52.43 crore was due for September 27, 2018, while the term deposit of Rs 103.53 crore was to be serviced on September 25.