L&T says has made Rs 93 crore provision for Gujarat toll-road SPV
Engineering major Larsen & Toubro (L&T) has already made an impairment provision of Rs 93 crore in the June quarter earnings towards L&T Halol Shamlaji Tollway SPV, which has been dragged to the NCLT by Oriental Bank of Commerce.
In a filing to the BSE, which has sought clarification on reports of the NCLT initiating insolvency process against the SPV, L&T said Thursday that OBCNSE 1.50 % had filed a bankruptcy application claiming an Rs 76.68 crore and accordingly the company has set aside Rs 93 crore towards impairment charges.
