{"id":261769,"date":"2019-02-28T06:50:50","date_gmt":"2019-02-28T06:50:50","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=261769"},"modified":"2019-02-28T06:59:15","modified_gmt":"2019-02-28T06:59:15","slug":"nclat-asks-ilfs-engineering-and-construction-to-extend-bank-guarantee-to-nhai-2","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/nclat-asks-ilfs-engineering-and-construction-to-extend-bank-guarantee-to-nhai-2\/","title":{"rendered":"NCLAT asks IL&amp;FS Engineering and Construction to extend bank guarantee to NHAI"},"content":{"rendered":"<p>NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) Tuesday permitted the debt ridden IL&amp;FS and its group firm IL&amp;FS Engineering and Construction Company to extend a bank guarantee of \u20b960.29 crore issued to state-run National Highways Authority of India (NHAI).<\/p>\n<p>A two-member bench headed by Chairman Justice S J Mukhopadhaya said it was not inclined to NHAI&#8217;s plea to direct to IL&amp;FS firm to invoke the bank guarantee, which is lapsing on March 1, 2019.<\/p>\n<p>&#8220;Taking into consideration the facts and circumstances of the case, while we are not inclined to direct M\/s IL&amp;FS Engineering and Construction Company Ltd or IL&amp;FS to invoke the Bank Guarantee aforesaid, allow the alternative prayer for extension of the Bank Guarantee for another period of six months from 1st March, 2019,&#8221; said NCLAT.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) Tuesday permitted the debt ridden IL&amp;FS and its group firm IL&amp;FS Engineering and Construction Company to extend a bank guarantee of \u20b960.29 crore issued to state-run National Highways Authority of India (NHAI). A two-member bench headed by Chairman Justice S J Mukhopadhaya said it was not inclined to NHAI&#8217;s plea to direct to IL&amp;FS firm to invoke the bank guarantee, which is lapsing on March 1, 2019. &#8220;Taking into consideration the facts and circumstances of the case, while we are not inclined to direct M\/s IL&amp;FS Engineering and Construction Company Ltd [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,189],"tags":[],"class_list":["post-261769","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-roads-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/261769","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=261769"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/261769\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=261769"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=261769"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=261769"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}