IL&FS Transportation Networks Ltd (ITNL), a subsidiary of IL&FS, on Sunday said it has received a settlement amount of Rs673 crore for Kiratpur Ner Chowk Expressway (KNCEL) and Rs20 crore towards claims for Chenani Nashri Tunnelway (CNTL), from the National Highways Authority of India (NHAI). The amount was received on March 31, Infrastructure Leasing and Financial Services (IL&FS) said in a statement. The KNCEL project was foreclosed under the Ministry of Road Transport and Highways (MoRTH) guidelines of March 2019 for incomplete or stalled projects.
CNTL is a completed project, earning annuities, and the Rs19.6 crore is the claim amount towards change of scope, the statement said.
It said Fagne Songadh Expressway Ltd (FSEL), a 100 per cent subsidiary of ITNL, had earlier completed its settlement with NHAI under the new MoRTH policy on stuck-up projects receiving an amount of Rs707 crore.
