during the construction period. Notifying guidelines that will facilitate substitution of concessionaires, the highway authority said that in cases where
the responsibility for delays in executing or completing a project
was the Authoritys land acquisition and environmental clearances for instance no penalty would be levied on the concessionaire for not fulfilling its obligations.
In the event of a default situations where the concessionaire was likely to face financial distress and was likely to default in complying with the terms of the concession the NHAI board may levy a penalty, subject to a cap of 1% of the project cost, in the event of a default, keeping in mind the extent and nature of the default.