Haryana govt pays IL&FS Rs 1.9k cr metro project dues
IL&FS has recovered Rs 1,925 crore from Haryana Shehari Vikas Pradhikaran (HSVP), the state's urban planning agency, as interim termination payment in the Gurgaon Metro Project case. This payment follows the Supreme Court's March 26, 2021 order that ruled in favour of IL&FS in the metro case. IL&FS's subsidiaries Rapid Metro Rail Gurgaon (RMGL) and Rapid Metro Rail Gurgaon South (RMGSL) had developed the projects. The Supreme Court order bodes well for IL&FS in its recovery attempt from state governments that have been holding payments after the group went bankrupt. For instance, IL&FS has around Rs 500-crore claims on the government of Jharkhand as annuity on the road projects.