KTIL top bidder for Lanco Hoskote Highway, NCLT approval awaited

Hyderabad: Kalyan group firm – Kalyan Toll Infrastructure (KTIL NSE 2.41 %) – has emerged the top bidder for Lanco Hoskote Highway (LHHL), the Lanco group’s roadways entity that developed Bengaluru-Hoskote-Mulbagal section of National Highways, which is currently undergoing insolvency resolution process.

A banker in the know of the developments said the committee of creditors (CoC) has recently approved the bid of Kalyan group entity and the resolution professional has submitted the CoC’s recommendations to the National Company Law Tribunal (NCLT).

If approved by the NCLT, the LHHL toll road project will become the first National Highways asset to change hands through the corporate insolvency resolution process (CIRP) mechanism.