Category: Roads

Pakistan on Thursday said it will send a delegation to India next month to discuss and finalise the draft agreement for setting up a corridor to facilitate the visit of Sikh pilgrims to the Gurdwara Kartarpur Sahib Gurudwara.

The government on Monday submitted a debt resolution plan for crisis-hit IL&FS to the National Company Law Tribunal, proposing that retired Supreme Court judge Justice D K Jain supervise the process.

The National Company Law Appellate Tribunal (NCLAT) on Monday directed the central government to submit a list of subsidiaries of the Infrastructure Leasing & Financial Services (IL&FS), categorised by their ability to meet payment obligations as decided by the newly constituted board of the company.

The Insurance Regulatory and Development Authority of India (Irdai) has asked insurers to make provisions for their exposure to the beleaguered IL&FS group because the write-off option is not there.

India is the fastest highway developer in the world with 27 km of highways being built every day, Finance Minister Piyush Goyal said Friday highlighting the importance of infrastructure sector in the nation’s development.

The interim Budget for 2019-20 (FY20) was a mixed bag for the transportation sector. While the railways lined up its highest-ever capital expenditure (capex) of Rs 1.58 trillion and an all-time high budgetary support of Rs 64,587 crore, the road and aviation sectors did not have much to smile about.

The government will take up Rs 50,000-crore projects to decongest Delhi that is battling with the twin problems of air and water pollution, Union Minister Nitin Gadkari said Saturday.

A 5.1-kilometre long cable-stayed bridge on Mandovi River will be opened for public use on Sunday by Union Minister Nitin Gadkari, a senior official said.

Engineering major Larsen & Toubro (L&T) on Friday reported a 37 per cent jump in December quarter consolidated net profit to Rs 2,042 crore, against Rs 1,490 crore in the same period of the previous year.

Engineering conglomerate Larsen & Toubro (L&T)’s December quarter net profit rose 37 per cent on improved operating performance and a higher other income. With general elections due in few months, the management expects order inflow to remain dull for some time.

The government will soon approach the RBI seeking a special dispensation for deferment of provisioning requirements for bank loans extended to some IL&FS group firms amid ongoing efforts to monetise assets of the crisis-hit group, official sources said Tuesday.

Domestic rating agency Icra has placed the ratings of six mutual fund schemes under watch with negative implications due to their exposure to the crippled infra lender IL&FS group entities.