IL&FS; Transportation Networks Ltd - 533177 - Settlement Agreement Entered With NHAI By Fagne Songadh Expressway Limited, A Subsidiary Of The Company
Fagne Songadh Expressway Limited (FSEL), a subsidiary of the Company had undertaken the development of Fagne-MAH/Guj Border section of National Highway No. 6 in the States of Gujarat and Maharashtra ('the Project'). FSEL had entered into a Settlement Agreement with National Highways Authority of India (NHAI) on February 19, 2021 for foreclosure of the Project at a compensation of Rs. 707 Crores pursuant to the discussions held through the Conciliation Committee of Independent Experts appointed by NHAI subject receipt of necessary approvals. Pursuant to the above and obtaining of requisite approvals, FSEL has received the compensation amount on March 9, 2021 and handed over the Project to NHAI.10-03-2021
