IL&FS may be in more trouble with SIDBI; more dues unpaid: Report

SIDBI has asked IL&FS for a repayment plan within 10 days

The Indian infrastructure finance firm behind a rare default last month that is reverberating through the nation's credit markets is delinquent on more borrowings, people familiar with the matter said.

Infrastructure Leasing & Financial Services Ltd., which helped fund India’s longest tunnel, is in default on Rs 3 billion of short-term borrowings taken through so-called inter-corporate deposits from Small Industries Development Bank of India, the people said. Government-backed SIDBI has sought a repayment plan, according to the people, who asked not to be identified because the details are private.

The mounting troubles come after IL&FS missed payment on commercial paper