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Kolkata flyover tragedy triggers review of IVRCL projects worth Rs 2,630 crore

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Kolkata | Published: April 8, 2016 6:02:13 AM

After the collapse of the Vivekananda Flyover in Kolkata, Hyderabad-based infrastructure company IVRCL’s projects worth around Rs 2,630 crore are likely to come under the review of the ministry of corporate affairs.

After the collapse of the Vivekananda Flyover in Kolkata, Hyderabad-based infrastructure company IVRCL’s projects worth around Rs 2,630 crore are likely to come under the review of the ministry of corporate affairs. It is the second time since 2011 that IVRCL projects are facing investigation.

While the Kolkata Police is looking into the criminal conspiracy angle behind the collapse, which was supposed to have a total length of 0.9 km with 59 sections completed before the 60th section collapsed, the company came under the CBI scanner in September 2011, for alleged irregularities in constructing a tsunami housing project in Puducherry.

A ministry of corporate affairs official told FE that IVRCL won the R2,630.98- crore orders between July 2013 and January 2016, and the clientele list, include the Karnataka, Kerala and Madhya Pradesh governments. Western Railways, Rail Vikas Nigam, the Airports Authority of India and NTPC are also among their major clients.

IVRCL bagged orders worth R4,080 in 2012 from NTPC, National Highway Authority of India and the PWD of the Punjab government. The joint venture of NTPC and Uttar Pradesh Rajya Vidyut Utpadan Nigam also roped in IVRCL in 2015 to undertake the R289.76 crore worth of civil construction work in the 1,320-MW coal-fired power station. NTPC has also awarded IVRCL civil construction work in the Solanpur and Monda power projects with an aggregate value of R588.17 crore.

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