Category: Roads

Mumbai: IL&FS Securities Services has filed a criminal case against the Economic Offences Wing of Delhi Police in the Delhi High Court, a development that could affect the efforts of the new management at InfrastructureNSE 0.00 % Leasing & Financial Services (IL&FS) to sell the securities business. In its petition, IL&FS Securities has called an […]

MUMBAI: Hari Sankaran, the former vice chairman of Infrastructure Leasing & Financial Services who was arrested on Monday, was allegedly instrumental in getting a Rs 175-crore loan sanctioned to a company owned by person with whom he had a “close relationship,” the Serious Fraud Investigation Office said in its court application seeking his custodial remand. […]

India’s biggest roads owner is raising Rs 8,000 crore in private debt papers that could have repayments set even three decades later, choosing negotiated deals over public auctions to lower its borrowing costs. On Wednesday, the National Highway Authority of India (NHAI) garnered Rs 5,500 crore by selling domestic bonds with 10-year maturity on the […]

ET Intelligence Group: The recent tendering for securing orders from the National Highway Authority of India (NHAI) shows a clear trend that is building up among construction companies. They have shown an increasing preference for non-highway, pure Engineering Procurement and Construction (EPC) orders instead of Hybrid Annuity Model (HAM) projects. The tendering amount for nonhighway […]

MUMBAI: At least two directors of the erstwhile IL&FS Financial Service (IFIN) have said they were kept out of the loop on major decisions taken by their board in their response to show cause notices (SCN) issued by the new board of Infrastructure Leasing and Financial Services (IL&FS). IFIN is a subsidiary of IL&FS. However, […]

Reliance InfrastructureNSE -1.32 % has entered into an agreement with Cube Highways for sale of 100% stake in Delhi-Agra Toll Road for an enterprise value of over Rs 3,600 crore, the Anil Ambani-led company said Thursday. Reliance InfrastructureNSE -1.46 % said that proceeds from the Delhi-Agra Toll road sale to be used for debt reduction. […]

NEW DELHI: The government has unveiled a policy for resolving stalled highway projects worth nearly Rs 30,000 crore, including those where proceedings have been initiated against the companies before the bankruptcy tribunal. The move is aimed at unlocking money of both lenders and private players, including crisis-hit IL&FS, which is caught in about 28-30 projects […]

New Delhi: Reliance InfrastructureNSE -0.96 % on Thursday said it will sell its entire stake in Delhi-Agra Toll Roadway to Singapore-based Cube Highways for Rs 3,600 crore, following which the Anil Ambani led company’s debt will be reduced by 25 per cent to less than Rs 5,000 crore. Reliance Infrastructure (RInfra) has entered into a […]

Sikh-Americans have urged the Indian Government to ensure that the work on the landmark Kartarpur Corridor is not impacted by the tension between India and Pakistan in the aftermath of the Pulwama terrorist attack. Tensions between India and Pakistan flared up after a suicide bomber of Pakistan-based Jaish-e-Mohammed killed 40 CRPF personnel in Jammu and […]

NEW DELHI: The CBI has on Tuesday booked the promoters of the Ranchi Expressway Ltd, including its CMD K Srinivasa Rao, for allegedly causing a loss of over Rs 1,000 crore to a consortium of banks led by Canara BankNSE -0.72 %, officials said. The agency has registered an FIR against Ranchi Expressway Ltd CMD […]

The fate of the Rs 70,000-crore Gujarat International Finance Tec-City (GIFT City) hangs in the balance as the new board of Infrastructure Leasing and Finance Services (IL&FS) recently admitted that many of the IL&FS group companies involved in the project, including the joint venture partner — holding company IL&FS — will not be able to […]

Mumbai: Canada’s largest pension fund manager Canada Pension Plan Investment Board (CPPIB) is in advanced talks to acquire 12 operating road assets of Sadbhav Infrastructure Project Ltd (SIPL), in a deal worth $400-500 million (Rs 3,000 crore), according to two persons aware of the development. CPPIB, which has entered into exclusive talks with SIPL, will […]