Leighton Holdings Ltd has been forced to re-extend the payment deadline for the $104 million sale of part of its Indian business, according to a report by The Australian newspaper. The report said the sale of 35 per cent of Leighton Contractors India was formalised last December, and cash payment was due on March 31. Leighton said this was delayed by the Reserve Bank of India's bureaucratic process, and the deadline was extended. The company had hoped for payment by last Friday, but this deadline also lapsed. Leighton shares tumbled more than 15 per cent last week after the company announced a sudden profit downgrade of about $900 million. It was yesterday forced to defend the announcement to the ASX, after being hit with a disclosure query.
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