{"id":284172,"date":"2019-07-24T06:35:33","date_gmt":"2019-07-24T06:35:33","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=284172"},"modified":"2019-07-24T06:35:33","modified_gmt":"2019-07-24T06:35:33","slug":"lt-road-project-in-gujarat-faces-insolvency-2","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/lt-road-project-in-gujarat-faces-insolvency-2\/","title":{"rendered":"L&amp;T road project in Gujarat faces insolvency"},"content":{"rendered":"<p>NEW DELHI: The National Company Law Tribunal (NCLT) has ordered the initiation of insolvency resolution against L&amp;T Halol-Shamlaji Tollway, which had loan repayment defaults of close to Rs 77 crore towards the end of December 2018.<br \/>\nThe petition to seek action under the Insolvency &amp; Bankruptcy Code was moved by Oriental Bank of Commerce and will come as an embarrassment for L&amp;T, one of the marquee names in the corporate sector. The road project was being developed by L&amp;T Infrastructure Projects Development Company.<br \/>\nIn November, TOI had reported that lenders had attached an NPA tag to L&amp;T\u2019s Chennai-Tada Tollways but the company had denied loan repayment problems with L&amp;T Halol-Shamlaji Tollway, despite banks complaining about it. The company has maintained that a large part of the problem is due to issues related with government agencies, which confronts most road developers in the country.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: The National Company Law Tribunal (NCLT) has ordered the initiation of insolvency resolution against L&amp;T Halol-Shamlaji Tollway, which had loan repayment defaults of close to Rs 77 crore towards the end of December 2018. The petition to seek action under the Insolvency &amp; Bankruptcy Code was moved by Oriental Bank of Commerce and will come as an embarrassment for L&amp;T, one of the marquee names in the corporate sector. The road project was being developed by L&amp;T Infrastructure Projects Development Company. In November, TOI had reported that lenders had attached an NPA tag to L&amp;T\u2019s Chennai-Tada Tollways but [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,221,137],"tags":[],"class_list":["post-284172","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-roads-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/284172","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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=284172"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/284172\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=284172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=284172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=284172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}