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ITNL, a subsidiary of IL&FS, on 31 March 2021 has duly received settlement amount of Rs 673 crore for Kiratpur Ner Chowk Expressway (KNCEL) and Rs 20 crore towards claims for Chenani Nashri Tunnelway (CNTL) - from National Highways Authority of India (NHAI). With these two projects, NHAI and MoRTH have settled aggregate IL&FS claims of over Rs 1,804 crore across 6 Road projects. KNCEL project was foreclosed under the Ministry of Road Transport and Highways (MoRTH) guidelines of March 2019 for stalled and incomplete projects. CNTL is a completed project, earning annuities, and the Rs 19.6 cror...

Centre brings ordinance to introduce pre-packaged debt resolution process for MSMEs The suspension -- wherein fresh insolvency proceedings were not allowed for a year starting from March 25, 2020 -- was implemented amid the coronavirus pandemic disrupting economic activities PTI | April 5, 2021 | Updated 14:48 IST The government has amended the insolvency law to provide for a pre-packaged resolution process for micro, small and medium enterprises. An ordinance was promulgated to amend the Insolvency and Bankruptcy Code (IBC) on April 4, according to a notification. The latest move comes les...

IL&FS receives Rs. 693 crore settlement claims for two road projects from NHAI Posted On: 2021-04-04 03:27:59 (Time Zone: Arizona, USA) IL&FS Transportation Networks Limited (ITNL), a subsidiary of IL&FS, on March 31, 2021 has duly received settlement amount of Rs 673 crore for Kiratpur Ner Chowk Expressway Limited (KNCEL) and Rs 20 crore towards claims for Chenani Nashri Tunnelway Limited (CNTL) - from National Highways Authority of India (NHAI). With these two projects, NHAI and MoRTH have settled aggregate IL&FS claims of over Rs 1,804 crore across 6 Road projects. KNCEL project was f...

ANI | Updated: Apr 04, 2021 17:22 IST Mumbai (Maharashtra) [India], April 4 (ANI): ITNL, a subsidiary of IL&FS, has duly received a settlement amount of Rs 673 crore for Kiratpur Ner Chowk Expressway Limited (KNCEL) and Rs 20 crore towards claims for Chenani Nashri Tunnelway Limited (CNTL) from the National Highways Authority of India (NHAI). According to the IL&FS, with these two projects, NHAI and MoRTH have settled aggregate IL&FS claims of over Rs 1,804 crore across 6 road projects. KNCEL project was foreclosed under the Ministry of Road Transport and...

Africa's growth prospects bullish despite covid-19 pandemic constraints LISTEN MAR 16, 2021 Africa is expected to recover from its worst recession in half a century and reach 3.4 per cent growth in 2021, the African Development Bank (AfDB) said in its 2021 African Economic Outlook report, launched on Friday. The outbreak of the novel coronavirus in December 2019 has taken a massive toll on Africa, hitting tourism-dependent economies, oil-exporting economies and other-resource intensive economies the hardest, as well as deepening inequality. The African Economic Outlook, published annually...