The National Highways Authority of India (NHAI), after a Delhi High Court order, has paid Rs 308 crore to IRB Pathankot Amritsar Toll Road Ltd (IRPRL), a special purpose vehicle (SPV) of IRB Infrastructure Developers, over a dispute in payment related to the Pathankot-Amritsar project.
“We deeply appreciate the steps taken by the Cabinet Committee on Economic Affairs for providing interim cashflow access to developers in clear award scenarios till a final verdict is closed,” said Virendra Mhaiskar, chairman and managing director of IRB Infra.
The amount is 75 per cent of the Rs 419 crore arbitral award owed by the highways authority after a court victory in July 2021, said the company.
