Indian and Pakistani officials will meet at Attari, near Amritsar, on Thursday to finalise modalities of the corridor to the Kartarpur Sahib gurdwara, with India keen for visa-free access to the pilgrims to the historic shrine across the border. The first-ever meeting on the issue, coming amid heightened tensions between both countries in the wake […]
Category: Roads
Dilip Buildcon up 7% after NHAI declares firm lowest bidder for EPC project
Shares of Dilip Buildcon surged 7 per cent to Rs 601 on the BSE in intra-day trade after the company said it has been declared the lowest (L-1) bidder by the National Highways Authority of India (NHAI) for EPC (engineering procurement and construction) project worth of Rs 480 crore in the state of Maharashtra. “The […]
IL&FS board charges former directors of money laundering, criminal intent
Tasked with cleaning up of mammoth financial mess at embattled IL&FS, its government-appointed board has charged 14 former directors of group firm IL&FS Financial Services Ltd (IFIN) of facilitating money laundering, sanctioning loans in violation of rules and causing “huge financial stress and losses” to the company. In show-cause notices issued to the 14 former […]
Sanjeev Ranjan named Road Transport Secretary, Sinha to be NHAI chief
Senior IAS officer Sanjeev Ranjan has been named secretary, Ministry of Road Transport and Highways (MoRTH), as part of a top-level bureaucratic reshuffle effected by the central government, according to a Personnel Ministry order. Ranjan, a 1985-batch IAS officer of Tripura cadre, is at present the chairman of National Highways Authority of India. He has […]
Grant Thornton’s IL&FS audit finds irregularities in deals worth Rs 13K cr
Grant Thornton in its report on debt ridden IL&FS Group has identified various financial irregularities in deals with financial implications of over Rs 13,000 crore during special audit conducted by the firm. IL&FS Group, which operates at least 24 direct subsidiaries, 135 indirect subsidiaries, six joint ventures and four associate companies, is sitting on debt […]
Servicing loans without default: L&T Halol Shamlaji Tollway tells NCLT
L&T Halol Shamlaji Tollway, a special purpose vehicle (SPV) of L&T Infrastructure Development Projects, has informed the National Company Law Tribunal’s (NCLT’s) Chennai Bench that its debt with a consortium of banks has been restructured and is being serviced properly, as against the allegations in an insolvency petition by Oriental Bank of Commerce (OBC). The […]
369 infrastructure projects facing cost overruns, 366 delayed: Report
As many as 369 infrastructure projects of the total 1,420 under implementation are facing cost overruns, while another 366 are significantly delayed, according to a report. The report “Infrastructure & Real Estate: A fulcrum for Change & Economic Growth” by Property consultant ANAROCK and Association of Infrastructure Industry (India) said the government should accord high […]
IL&FS lenders to continue making provisions for loans to the group
With limited prospects for recovery of loans to Infrastructure Leasing and Financial Services (IL&FS) and its subsidiaries in the near term, lenders will continue to make provisions for loans to the group. In February, the National Company Law Appellate Tribunal (NCLAT) had ruled that lenders can’t treat loan exposures as non-performing assets (NPAs) without the […]
2 arrests, officer on desk duty after wild NYC highway chase
A police officer has been placed on desk duty after shooting at a car during a wild four-mile chase onto a Manhattan highway. The BMW struck two officers one in the hand, the other in the elbow on Thursday evening after officers tried to pull it over at 96th Street and Second Avenue for a […]
One way traffic resumes on Jammu-Srinagar highway after five days closure
After remaining closed for the past five days, Kashmir-bound traffic from here was allowed on the Jammu-Srinagar national highway Saturday even as fresh snowfall and rains lashed parts of the state, officials said. Thousands of vehicles were stranded after the 270-km strategic highway, the only all-weather road linking Kashmir with rest of the country, was […]
Delhi needs to look beyond highways to solve traffic, pollution woes
Delhi has laid the foundation stone for at least two new road projects in the last month–the 170-km-long Saharanpur National Highway Corridor and 27.6-km-long Northern Peripheral Road or Dwarka Expressway–promising to ease traffic, save commute time and reduce pollution by emissions from cars idling in traffic. The logic of building bigger roads to ease congestion […]
50% IL&FS assets on block, 22 group firms servicing loans: Injeti Srinivas
Fifty per cent of the assets of the beleagured IL&FS group are on the block, corporate affairs secretary Injeti Srinivas said on Tuesday. Speaking on the sidelines of the CII-IBC conference, Srinivas said that out of the 100 IL&FS companies that need classification based on the risk, all would be with high risk or medium […]