IL&FS receives ₹693 cr settlement claims for 2 road projects from NHAI
MUMBAI (MAHARASHTRA) : ITNL, a subsidiary of IL&FS, has duly received a settlement amount of ₹673 crore for Kiratpur Ner Chowk Expressway Limited (KNCEL) and ₹20 crore towards claims for Chenani Nashri Tunnelway Limited (CNTL) from the National Highways Authority of India (NHAI).
According to the IL&FS, with these two projects, NHAI and MoRTH have settled aggregate IL&FS claims of over ₹1,804 crore across 6 road projects.
KNCEL project was foreclosed under the Ministry of Road Transport and Highways (MoRTH) guidelines of March 2019 for stalled and incomplete projects. CNTL is a completed project, earning annuities, and ₹19.6 crore is the claim amount towards the change of scope.
