Blank toll receipts stretch Delhi-Gurgaon expressway logjam, road min wants probe

Sep 26 2013, 11:16 IST
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SummaryThe ministry, official sources said, has forwarded these complaints to the National Highways Authority of India (NHAI) for necessary action.

government also told the concessionaire that it had not met the MoU conditions signed last year but the concessionaire dismissed the charges, adding the government had not cooperated with it.

The issue is in the court since last two years now.

"We want an early decision because the public is suffering because of the delay in the decision and we going to strongly plead our case," Fernandez said.

FE in an earlier report said the IDFC-led consortium's R1,600-crore exposure to the expressway project is in trouble because the relevant loan agreement does not empower the lead lender to replace the over-leveraged concessionaire – DSC - even in case of default.

The NHAI had contested the developer changing the lenders (taking much higher amounts of loans) without its consent although these loans were based on the future revenue streams of the expressway project.

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