The National Company Law Appellate Tribunal (NCLAT) has directed IL&FS to distribute Rs 1,925 crore to its financial creditors from the payments received in connection with the Gurgaon metro project.
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Haryana Govt Pays Rs 1,925 Crore To Infra Finance Firm IL&FS As Part Of Gurgaon Metro Project Case swarajyamag.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from swarajyamag.com Daily Mail and Mail on Sunday newspapers.
Gurgaon Metro Project: IL&FS gets Rs 1,925 cr from Haryana govt
By IANS |
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Gurgaon: The second phase of Rapid Metro flagged off by IL&FS MD and CEO Rajiv Banga from Dlf Phase 1 metro station in Gurgaon on March 31, 2017. Seven trains will be running on the 6.6-km track at an interval of five minutes. . Image Source: IANS News
New Delhi, June 27 : IL&FS has received Rs 1,925 crore from Haryana Shehari Vikas Pradhikaran (HSVP) as interim termination payment in the Gurgaon Metro Project case.
The payment, duly received in escrow accounts, comes in compliance of the Supreme Court order of March 26, 2021 that ruled in favour of IL&FS in the Gurgaon Metro Project, developed through IL&FS subsidiaries and Special Purpose Vehicles (SPVs), Rapid Metro Rail Gurgaon Limited (RMGL) and Rapid Metro Rail Gurgaon South Limited (RMGSL).
IL&FS has received Rs 1,925 crore from Haryana Shehari Vikas Pradhikaran (HSVP) as interim termination payment in the Gurgaon Metro Project case. The payment, duly received in escrow accounts, comes in compliance of the Supreme Court order of March 26, 2021 that ruled in favour of IL&FS in the Gurgaon Metro Project, developed through IL&FS subsidiaries and Special Purpose Vehicles (SPVs), Rapid Metro Rail Gurgaon Limited (RMGL) and Rapid Metro Rail Gurgaon South Limited (RMGSL). The appropriation of any amount from the said escrow accounts shall be subject to further orders of the NCLAT or any other competent legal authority as per the order, which would be duly complied with by IL&FS.