Mumbai:ILFS Transportation Networks said in a filing on Thursday that it missed some Rs 20.9 crore ($3 million) in principal and interest payments due on March 18 because of "insufficient funds".ILFS Transportation Networks is a subsidiary of debt-laden Infrastructure Leasing and Financial Services Ltd (ILFS), which the government took control of in October, citing the need to protect the country's financial system and markets from a potential collapse.ILFS, which is looking to sell assets to pay off debts, said in December it had begun the sale of its domestic road assets within its ILFS Transportation Networks subsidiary.($1 = Rs 68.55)Get the latest election news, live updates and election schedule for Lok Sabha Elections 2019 on TheIndianSubcontinent.com/elections.
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