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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. ....

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IL&FS sells stake in WCBTRL, resolves Rs 324 cr group debt

IL&FS Group on Friday said it has completed the sale of its 35 per cent stake in Warora Chandrapur Ballarpur Toll Road Limited (WCBTRL).Accordingly, the stake was sold to IL&FS majority joint venture partner Vishvaraj Infrastructure . ....

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