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Haryana govt pays IL&FS Rs 1,925 crore as interim termination payment in Gurgaon metro project case


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Haryana govt pays IL&FS Rs 1,925 crore as interim termination payment in Gurgaon metro project case
Haryana govt pays IL&FS Rs 1,925 crore as interim termination payment in Gurgaon metro project case
The payment received in the escrow accounts comes in compliance of the Supreme Court’s March 26 order that ruled in favour of IL&FS in the project
Infrastructure Leasing and Financial Services (IL&FS) on Sunday said that it has received Rs 1,925 crore from Haryana Shehari Vikas Pradhikaran (HSVP) as an interim termination payment in the Gurgaon metro project case.
The payment received in the escrow accounts comes in compliance of the Supreme Court’s March 26 order that ruled in favour of IL&FS in the project. ....

Rapid Metro Rail Gurgaon Ltd , Rapid Metro Rail Gurgaon South Ltd , Gurgaon Metro Project , விரைவான மெட்ரோ ரயில் குர்கான் லிமிடெட் , விரைவான மெட்ரோ ரயில் குர்கான் தெற்கு லிமிடெட் , குர்கான் மெட்ரோ ப்ராஜெக்ட் ,

Gurgaon Metro: IL&FS Receives Rs1,925 Crore from Haryana Govt's Unit HSVP


Gurgaon Metro: IL&FS Receives Rs1,925 Crore from Haryana Govt’s Unit HSVP
Moneylife Digital Team
28 June 2021
 
IL&FS had to go head on with the Haryana government and the Union government via the high court and then Supreme Court to get the state government to honour contractual obligations. This throws up the peculiar challenges faced by the new board in the IL&FS resolution, where the other party to disputes in public-private contracts are always state entities. 
 
As part of the interim termination payment IL&FS has received Rs1,925 crore from Haryana Shehari Vikas Pradhikaran (HSVP) in its escrow accounts. This is in compliance with a Supreme Court order of 26 March 2021 in the Gurgaon Metro Project, which was being developed by two special purpose vehicles (SPVs) -Rapid Metro Rail Gurgaon Ltd (RMGL) and Rapid Metro Rail Gurgaon South Ltd (RMGSL). ....

Haryana Shehari Vikas Pradhikaran , Supreme Court , Financial Services , Rapid Metro Rail Gurgaon Ltd , Rapid Metro Rail Gurgaon South Ltd , High Court , Infrastructure Leasing , Gurgaon Metro , Gurgaon Metro Project , Auditor General , Metro Link Project , Sikanderpur Station , ஹரியானா ஷெஹாரி விகாஸ் பிரதிக்ாரன் , உச்ச நீதிமன்றம் , நிதி சேவைகள் , விரைவான மெட்ரோ ரயில் குர்கான் லிமிடெட் , விரைவான மெட்ரோ ரயில் குர்கான் தெற்கு லிமிடெட் , உயர் நீதிமன்றம் , உள்கட்டமைப்பு குத்தகை , குர்கான் மெட்ரோ , குர்கான் மெட்ரோ ப்ராஜெக்ட் , தணிக்கையாளர் ஜநரல் , சிக்கந்தர்பூர் நிலையம் ,