At Delhi-Gurgaon Expressway, lenders set to take wheel

Feb 20 2014, 15:03 IST
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The Delhi HC approved an agreement between the IDFC-led consortium of lenders to Delhi-Gurgaon Expressway and the concessionaire DGSCL. The Delhi HC approved an agreement between the IDFC-led consortium of lenders to Delhi-Gurgaon Expressway and the concessionaire DGSCL.
SummaryThe Delhi High Court on Wednesday approved an agreement between the IDFC-led consortium of lenders to Delhi-Gurgaon Expressway and the concessionaire DGSCL, which paves the way for the lenders to take over the expressway.

and future claims, liabilities and obligations incurred by it under the 2002 concession agreement and the 2012 memorandum of understanding. Additionally, as per the bilateral agreement signed between the bankers and the concessionaire on February 17, IDFC will bear the dues of DGSCL, till a new concessionaire is selected to substitute DGSCL. NHAI has consented to the aforementioned proposal subject to the condition that no liability shall accrue to it under the bilateral agreement.

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