NHAI plans Rs.6,000 cr boost for road developers stuck in litigation
  1. Home
  2. Infrastructure Transport
  3. ROADS & HIGHWAYS
  4. NHAI plans Rs.6,000 cr boost for road developers stuck in litigation
ROADS & HIGHWAYS

NHAI plans Rs.6,000 cr boost for road developers stuck in litigation

01 Oct 2016 1 Min Read CW Staff
NHAI plans to release Rs 6,000 crore to developers stuck in litigation under the new policy announced at the end of last month, a measure that will help banks recover some stuck loans while also providing funds for stalled projects. The government has asked its departments and ministries along with public sector entities to release 75 per cent of disputed amount where the developer or concessionaire has won an arbitration case.

NHAI plans to release Rs 6,000 crore to developers stuck in litigation under the new policy announced at the end of last month, a measure that will help banks recover some stuck loans while also providing funds for stalled projects. The government has asked its departments and ministries along with public sector entities to release 75 per cent of disputed amount where the developer or concessionaire has won an arbitration case.

Related Stories

Gold Stories

Opinion Poll

Question : Which technological advancement do you believe will most transform the real estate industry in the coming years?

Latest updates

KPMG in India and Arkieva announce an alliance to drive digital supply chain solutions
WAREHOUSING & LOGISTICS
25 Apr 2024

KPMG in India and Arkieva announce an alliance to drive digital supply chain solutions

REC, CVPPL sign agreement for term loan for Kiru hydro project
POWER & RENEWABLE ENERGY
25 Apr 2024

REC, CVPPL sign agreement for term loan for Kiru hydro project

Mitsubishi and Denka sign JV in fullerene business
ECONOMY & POLICY
25 Apr 2024

Mitsubishi and Denka sign JV in fullerene business

Mitsubishi Power begins operation of 7th gas turbine in GTCC project
POWER & RENEWABLE ENERGY
25 Apr 2024

Mitsubishi Power begins operation of 7th gas turbine in GTCC project

Make in India steel bridge launches over railways tracks for bullet train project
Steel
25 Apr 2024

Make in India steel bridge launches over railways tracks for bullet train project

Dalmia Bharat delivers industry-leading volume growth in Q4'24
ECONOMY & POLICY
25 Apr 2024

Dalmia Bharat delivers industry-leading volume growth in Q4'24

Vedanta Aluminium organises
ECONOMY & POLICY
25 Apr 2024

Vedanta Aluminium organises "AutoEdge"conclave

MatchLog raises pre-series A funding from Motion and July Ventures
ECONOMY & POLICY
25 Apr 2024

MatchLog raises pre-series A funding from Motion and July Ventures

Hi There!

Now get regular updates from CW Magazine on WhatsApp!

Click on link below, message us with a simple hi, and SAVE our number

You will have subscribed to our Construction News on Whatsapp! Enjoy

+91 81086 03000

Join us Telegram