The National Company Law Appellate Tribunal (NCLAT) has directed the National Highways Authority of India (NHAI) not to terminate the concession agreement of Baleshwar Kharagpur Expressway Ltd, an IL&FS group entity, and take appropriate measures for its insolvency resolution. The tribunal noted that the resolution of BKEL, a SPV set up by IL&FS Transportation Networks Limited (ITNL), is in the final stages, and any termination at this stage would further complicate the process.
IL&FS Group on Friday said it has completed the sale of its 35 per cent stake in Warora Chandrapur Ballarpur Toll Road Limited (WCBTRL).Accordingly, the stake was sold to IL&FS majority joint venture partner Vishvaraj Infrastructure .
Debt-ridden IL&FS on Saturday said that it has received approval for launching the first phase of the Infrastructure Investment Trust (InvIT) from National Company Law Tribunal (NCLT).Accordingly, with the approval, six road projects .