Stocks

IL&FS Engg may gain on Tribunal award to arm

| Updated on November 28, 2019 Published on November 28, 2019

 

Shares of IL&FS Engineering and Construction Company may remain in focus, as the Arbitration Tribunal has awarded a verdict in favour of its special purpose vehicle. The Tribunal has awarded ₹492 crore (₹250 crore as principal and ₹242 crore as interest) for the claim filed against NHAI by Bangalore Elevated Tollway Private Ltd. IL&FS Engineering and Construction holds 24 per cent stake in Bangalore Elevated Tollway, a sponsored SPV along with India Infrastructure Fund 2.

Published on November 28, 2019
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