An arm of IL&FS has received Rs 1,804 crore as claim settlement from the National Highways Authority of India (NHAI). This will help the subsidiary address its Rs 3,500-crore debt. “The NHAI and ministry of road transport and highways have settled aggregate IL&FS claims of over Rs 1,804 crore across six road projects,” said an official statement.
IL&FS Transportation Networks (ITNL), a subsidiary of IL&FS, on March 31, 2021, received a settlement amount of Rs 673 crore for Kiratpur Ner Chowk Expressway (KNCEL) and around Rs 20 crore towards claims for Chenani Nashri Tunnelway (CNTL) from NHAI. The KNCEL project was foreclosed under the ministry of road transport and highways guidelines of March 2019 for incomplete or stalled projects.