By CNBC-TV18 Oct 10, 2018 9:51:50 AM IST (Published)
The beleaguered Infrastructure Lending &Financial Services (IL&FS) and the National Highways Authority of India (NHAI) may choose for an out-of-court-settlement in a couple of highway projects, where debt-ridden infrastructure financing and construction firm had moved to court challenging the arbitration amount, Business Standard reported.
The beleaguered Infrastructure Lending &Financial Services (IL&FS) and the National Highways Authority of India (NHAI) may choose for an out-of-court-settlement in a couple of highway projects, where debt-ridden infrastructure financing and construction firm had moved to court challenging the arbitration amount, reported Business Standard.
IL&FS has made Rs 70,000 crore worth of arbitration claim against the NHAI, which are under various stages of resolution, the report said, adding that if NHAI pays the due amount, debt laden infrastructure firm will be able to pay off some of its debts.
“If IL&FS is ready to accept the arbitration amount sanctioned by the arbitration panel, the road ministry and the NHAI will make the payment. Those projects, once cleared can further sold by IL&FS to pare debt,” Business Standard reported citing a source.