IL&FS Engineering and Construction Company Limited has informed the Exchange regarding 'Intimation of default as per SEBI Circular No. SEBI/HO/CFD/CMD1/CIR/P/2019/140 dated 21st November 2019'.
IL&FSENGG · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
IL&FS Engineering and Construction Company has disclosed a default of the entire outstanding loan amount of Rs 2,628.05 crore owed to banks and financial institutions as on 30 June 2025. The company's total financial indebtedness stands at Rs 3,097.61 crore, meaning roughly 85% of its total debt is in default. The filing notes that no interest is being accrued or provided on these loans after the 15 October 2018 cutoff date set by the NCLT, except for Funded Interest Term Loans (FITL). The company has no outstanding unlisted debt securities (NCDS/NCRPS).
This is not a new default but a continuation of the long-standing IL&FS group debt crisis, with no resolution in sight. Shareholders should view this as a deeply distressed company with essentially no servicing of bank debt since 2018, and stock price recovery remains highly unlikely without a broader resolution plan.