IL&FS has received Rs 693 crore worth of settlement claims for two road projects from the National Highways Authority of India (NHAI).
With the latest development, NHAI and MoRTH have settled aggregate IL&FS claims of over Rs 1,804 crore across 6 road projects.
In a statement, IL&FS said that its subsidiary IL&FS Transportation Networks India Limited (ITNL), on March 31, 2021, duly received settlement amount of Rs 673 crore for Kiratpur Ner Chowk Expressway Limited (KNCEL) and Rs 20 crore towards claims for Chenani Nashri Tunnelway Limited (CNTL) from NHAI.
KNCEL project was foreclosed under the MoRTH guidelines of March 2019 for incomplete or stalled projects. CNTL is a completed project which is earning annuities.
