exit the project and hand over the toll plaza to the government.
The dispute between NHAI, highway operator and the lenders has been going on for almost two years, where DS Construction had earlier placed claims of R988 crore related to the project work, which it has now agreed to let go off. Earlier, IDFC had requested for more time to get all the other lenders on board to take the settlement procedure forward.
In case the substitution happens, then the new operator will take over the project, along with all the other concessions and liabilities with respect to NHAI and the lenders, except the dues arising prior to the appointment of IDFC consortium as a receiver of the project. The understanding between DGSCL and IDFC comes at a time when both NHAI and the highway ministry have refused to entertain any charges being raised by the developer and lenders.