IL&FS receives ₹693-cr settlement claims from NHAI

Our Bureau Mumbai | Updated on April 04, 2021

IL&FS Transportation Networks Ltd (ITNL), a subsidiary of IL&FS, has received ₹693 crore settlement claims for two road projects from NHAI for Kiratpur Ner Chowk Expressway Limited (KNCEL) and for Chenani Nashri Tunnelway Limited (CNTL).

With these two projects, NHAI has settled aggregate IL&FS claims of over ₹1,804 crore across six road projects.

KNCEL project was foreclosed under the Ministry of Road Transport and Highways (MoRTH) guidelines of March 2019 for stalled and incomplete projects. CNTL is a completed project, earning annuities, and ₹19.6 crore is the claim amount towards change of scope.

There is a pending settlement of ₹902 crore for the Khed Sinnar Expressway project and ₹171 crore for Amravati Chikli Expressway from NHAI.

Published on April 04, 2021

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