Source: The Economic Times, May 22, 2019
The projects in question will be owned by the ministry of road transport and highways after the parties reached a settlement of about Rs 200 crore with the group’s lenders. The projects will be re-tendered for completion of the remaining work, an official familiar with the development said.
This out of court settlement has been reached under a new framework.
The highways ministry had in March issued a set of guidelines for salvaging ‘stuck’ national highway projects under execution. Read the rest of this entry »