Toll Road Creditors agrees Rs 2.70 billion for settlement

04 Jun 2024 CW Team

After no rival proposal was received for the government-backed bad bank's offer in April, the six creditors of Essel Infraprojects' Ludhiana-Talwandi Toll Road (LTTRPL) have approved NARCL's Rs 2.70 billion offer to repay the company's Rs 9.8 billion debt. The purchase, which is probably going to be NARCL's first acquisition of the fiscal year, is now being finalised by lenders through the creation of an assignment agreement. As usual, NARCL's offer is based on a 15:85 structure, with cash accounting for 15% of the consideration and security receipts (assured by the government) to be paid upon recovery. An email asking for comments was not answered by NARCL.

Since no transaction has been completed in April or May thus far this fiscal year, it is quite likely that this one will be the first to be finished. The concession deal, signed by NHAI in March 2012, was for the construction of a 78-kilometer, four-lane section of the National Highway-95 between Ludhiana and Talwandi Bhai in Punjab by September 2014. The agreement was valid for 29 years. However, the loan became non-performing due to project delays.

With a debt of Rs 2.64 billion outstanding, PNB is the primary lender. The Central Bank, Indian Overseas Bank, Bank of Baroda, Canara Bank, and IIFCL are further lenders. At the end of 2018, NARCL has eighteen stressed accounts totaling Rs 925 billion in debt. It is estimated that another 24 accounts aggregating Rs 760 billion are in the pipeline to be acquired in the current fiscal year.

However, progress has been slow since this is the first time such a government-backed bad bank has started operations in India.

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..