IL and FS Financial Services defaults on payments as low as Rs 4 lakh

IL&FS Financial Services has defaulted on its payment obligations on loans and interest payments as low as Rs 4 lakh from October 31 to November 4.

In a regulatory filing with stock exchanges, the company has said the company was unable to service its obligations in respect of term loans and interest payments.

Providing the intimation of default in payment obligations, IL&FS Financial Services defaulted on seven such payments beginning October 31 to November 4.

The situation is serious considering the default on interest payments in some cases is as low as Rs 4 lakh and Rs 6 lakh.

Read More: https://www.bhaskarlive.in/ilfs-financial-services-defaults-on-payments-as-low-as-rs-4-lakh-ians-exclusive/