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📋 Filing Types Available on ForgeUp Filings Sourced from BSE corporate announcements (equity segment). Companies covered are BSE-listed and most are also listed on NSE. We show only material filings.
Financial Results Orders Dividend Buyback Merger / Acquisition Board Meeting Outcome Fundraise (QIP / Rights / FPO) Regulatory / Court Order Credit Rating Change Promoter Pledge Update Management Change Joint Venture / MOU Delisting Bonus Shares Stock Split
Data sourced from BSE India corporate announcements. More categories will be added over time.
IL&FS Transportation Networks Ltd

IL&FS Transportation: Third Interim Distribution to NCD Holders Initiated

DIVIDEND ● No Immediate Change MEDIUM RISK
📅 Filed on BSE: 15 Apr 2026, 02:56 PM IST  ·  BSE ID: 4c0c7b55-a500-4cda-a036-f7c43840bdce
View Original BSE Filing (PDF)
💡
In Simple Terms
The company paid cash distributions to bondholders on April 16, 2026, in the third round of payments under a court-supervised restructuring plan.
🤖 AI Summary
  • Third interim distribution to NCD holders initiated effective April 16, 2026 with record date April 10, 2026
  • Distribution covers nine ISIN series with payout percentages ranging from 7% to 37% of face value
  • Calculations performed by Alvarez & Marsal India and Grant Thornton Bharat under NCLAT court orders
  • Admitted claim values of NCDs reduced post-payout; specific per-unit cash amounts provided for each series
  • Continuation of structured resolution distribution process mandated by NCLAT February 13, 2023 order
🔢 Key Numbers — exact figures from BSE filing, not rounded
Distribution Initiation Date
April 16, 2026
Record Date
April 10, 2026
Number of ISIN Series Covered
9 series
Payout Percentage Range
7% to 37% of face value per series
🏢 How This Affects the Company
💰
Financial Impact
Distribution reduces admitted NCD claim values as per court order. Cash outflow of specified amounts per ISIN series reduces company liquidity but discharges portion of restructured debt obligation.
⚠️
Risk Impact
Completion of interim distribution demonstrates adherence to NCLAT-mandated timeline. Failure to execute would breach court orders; successful execution reduces restructuring delay risk.
👥 What This Means For Shareholders
✅
Action Required
No action required for equity shareholders. NCD holders must ensure updated demat records for correct payment receipt.
👤
Who Is Affected
Non-Convertible Debenture holders across nine ISIN series receive cash distributions per specified per-unit amounts. Equity shareholders unaffected by debt restructuring payments.
🔍
Management Signal
Timely execution of court-mandated distribution signals operational compliance with resolution framework and creditor payment discipline.

For information only. Not investment advice. ForgeUp is not SEBI-registered.

👁 Watch List — track these upcoming events
Fourth interim distribution announcement — track timeline adherence to court order schedule
Resolution completion filing — monitor final status under NCLAT resolution framework
Admitted claim value disclosure — track cumulative recovery percentage across distributions
MEDIUM RISK Fragmented NCD structure with varied recovery rates. Multi-year resolution timeline creates execution risk. Court-order dependency limits management flexibility.
💡 Investor Takeaway
IL&FS Transportation initiated its third interim NCD distribution on April 16, 2026, under NCLAT court orders. Nine debenture series received varied payouts (7%–37% percentages). Post-payout, admitted claim values reduced accordingly. This represents scheduled debt restructuring progress under supervision.
⚖️ Strengths & Concerns

✅ Positives

  • Distribution executed on schedule per court order, demonstrating resolution process discipline and creditor payment commitment
  • Multiple independent parties (Alvarez & Marsal, Grant Thornton) ensure calculation transparency and reduce dispute risk

⚠️ Concerns

  • Admitted claim value reduction confirms that NCD holders receiving partial recovery only, not full face value repayment
  • Nine separate ISIN series with varying payout percentages (7% to 37%) indicate highly fragmented capital structure complexity
📅 Company Track Record
IL&FS Transportation has been under NCLAT supervision since March 12, 2020. First interim distribution completed; second interim distribution executed previously; third interim distribution now initiated per February 13, 2023 NCLAT order. Series VX received 7% payout; Series II-RS received 35%; Series III received 36%; multiple TRANCHE series at 36–37% rates.

Based on publicly available historical data. For context only.

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⚠️ For Information Only — Not Investment Advice
ForgeUp Filings provides AI-generated summaries of public BSE exchange announcements (equity segment) for informational purposes only. Nothing here constitutes investment advice or a recommendation to buy, sell, or hold any security. ForgeUp is not a SEBI-registered investment advisor. All financial numbers are sourced directly from BSE filings and shown as-is. Past data is historical only. Please consult a qualified financial advisor before making investment decisions. Data sourced from BSE India public disclosures.
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