IL&FS gets bids worth ₹13,000 cr for road assets
Debt-laden IL&FS has received binding financial offers of ₹13,000 crore for 10 domestic road assets.
These bids were opened on September 9. The combined value of bids and these claims will help address the cumulative financial debt of ₹17,700 crore, as of October 2018, in these assets.
In addition to the above, IL&FS Group entities continue to hold rights to receive claims with Gross Value exceeding ₹1,900 crore, filed with various concession authorities in respect of these assets.
Recently, three road entities — Jharkhand Road Projects Implementation Company, West Gujarat Expressway and Moradabad Bareilly Expressway — have become ‘going-concerns’.
