Default in repayment of Principal and Interest on Cash credit with revolving facilities to be read with terms of Moratorium as per Orders of Hon'ble NCLT/NCLAT
IL&FSENGG · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
IL&FS Engineering and Construction Company has disclosed defaults on loan repayments as of 31st March 2026. The company has defaulted on the entire outstanding amount of Rs 2627.51 crore under cash credit and revolving facilities from banks and financial institutions. Total financial indebtedness stands at Rs 3097.07 crore. The company states no interest is being accrued post the NCLAT cutoff date of 12th March 2020, except on Funded Interest Term Loan (FITL), due to ongoing moratorium orders. No default is reported on unlisted debt securities (NCDS and NCRPS).
This represents a severe distress situation where the entire loan book is in default. Shareholders face significant risk as the company operates under NCLT/NCLAT-supervised moratorium with limited prospects for recovery without a resolution plan.