IL&FS: NCLAT directs NHAI not to terminate concession agreement of IL&FS group entity
The National Company Law Appellate Tribunal (NCLAT) has directed the National Highways Authority of India (NHAI) not to terminate the concession agreement of Baleshwar Kharagpur Expressway Ltd, an IL&FS group entity, and take appropriate measures for its insolvency resolution. The tribunal noted that the resolution of BKEL, a SPV set up by IL&FS Transportation Networks Limited (ITNL), is in the final stages, and any termination at this stage would further complicate the process.
Il Fs Group Authority Of India National Company Law Appellate Tribunal Il Fs Transportation Networks Limited Baleshwar Kharagpur Expressway Ltd National Highways Authority
Source: indiatimes.com