IL&FS has sought Expression of Interest (EoI) for acquiring its entire stake in GRICL Rail Bridge Development Company Ltd (GRBDCL). ITNL, a wholly owned subsidiary of IL&FS is the promoter shareholder of GRBDCL and holds 100 per cent of the equity shares of the company. GRBDCL is an under construction BOT asset of ITNL that […]
Category: Roads
Roads
CSC, Paytm Payments Bank join hands to sell FASTags
Common Service Centre (CSC) and Paytm Payments Bank Ltd (PPBL) on Friday signed an MoU for the sale of PPBL FASTags across the country. These will be sold through the last-mile network of 3.6 lakh CSC outlets. Under the MoU, CSC will integrate its platform with Paytm Payments Bank to carry out seamless transactions. Village […]
IRB Infra receives NOC from NHAI for transferring BOT assets
Road developer IRB Infrastructure has received No Objection Certificate (NOC) from National Highway Authority of India (NHAI) for transfer of nine of its Build Operate Transfer (BOT) assets to IRB Infrastructure Trust and subsequent investment by GIC affiliates for 49 per cent stake in the Trust. SEBI has granted the Certificate of Registration to the […]
Infra push: Analysts remain cautiously optimistic
Analysts are cautiously optimistic on the Centre’s big bang infrastructure push to achieve its $5-trillion economy target. Finance Minister Nirmala Sitharaman on Tuesday released a report on the National Infrastructure Pipeline (NIP) that provides year-wise commissioning of infrastructure projects worth ₹1.02-lakh crore over the next five years. Projects are spread across power, renewables, roads, railways, […]
Infra projects’ cost overrun crosses ₹4-lakh crore mark
As many as 388 infrastructure projects, each worth ₹150 crore or more, have been hit by cost overruns of more than ₹4-lakh crore owing to delays and other reasons, according to a report. The Ministry of Statistics and Programme Implementation monitors infrastructure projects worth ₹150 crore and above. Of such 1,636 projects, 388 projects reported […]
Government rolls out ₹102-lakh crore blueprint for infrastructure development
The Centre on Tuesday unveiled the National Infrastructure Pipeline (NIP) with projects worth ₹102-lakh crore. It aims to ensure timely implementation of these projects — spread across 18 States and Union Territories — over the next five years. The government expects that with more and more States/UTs submitting their proposals, another ₹3-lakh crore will be […]
HG Infra bags Rs 522-crore project in Haryana
HG Infra Engineering Ltd, a road construction company, has won a Rs 522.02 crore project for construction of a bypass in Rewari district of Haryana. HG Infra is the lowest bidder (L-1) for the Hybrid Annuity Model (HAM) based project, which was awarded by the National Highways Authority of India (NHAI), the company said in […]
SEBI slaps ₹25 lakh penalty each on ICRA and CARE Ratings in IL&FS case
Market regulator SEBI on Thursday slapped a penalty of ₹25 lakh each on rating agencies CARE Ratings and ICRA for lack of “due diligence” in credit ratings to non-convertible debentures of Infrastructure Leasing and Financial Services Ltd. In two separate adjudication orders on Thursday, SEBI also noted that the default in IL&FS has occurred due […]
Yamuna Expressway scam: CBI takes over probe, books ex-CEO PC Gupta and 20 others
The CBI has taken over the investigation into the Yamuna Expressway scam and named former CEO P C Gupta and 20 others in its FIR, officials said on Wednesday. The agency has acted on the recommendation of the Uttar Pradesh government to probe alleged irregularities worth ₹126 crore in the purchase of large areas of […]
CBI takes over probe into Yamuna Expressway land scam case
The CBI has taken over the investigation into the Yamuna Expressway Industrial Development Authority (YEIDA) land scam case and named former CEO P C Gupta and 20 others in its FIR, officials said on Wednesday. According to procedure, the agency has re-registered the Uttar Pradesh Police’s FIR that alleges YEIDA had paid Rs 85.49 crore […]
Ministry of Corporate Affairs extends tenure of IL&FS Deputy MD
The Ministry of Corporate Affairs (MCA) has extended the tenure of Bijay Kumar, Deputy Managing Director by a year. This extension is effective from December 21, the company said in a statement. On December 21, 2018, Kumar was appointed as Deputy MD of the bankrupt financing company when the new Board headed by Uday Kotak […]
377 infrastructure projects show cost overruns of Rs 3.94 lakh crore
As many as 377 infrastructure projects, each worth Rs 150 crore or more, have been hit by cost overruns of more than Rs 3.94 lakh crore owing to delays and other reasons, according to a report. The Ministry of Statistics and Programme Implementation monitors infrastructure projects worth Rs 150 crore and above. Of such 1,635 […]