KNR Constructions Limited (KNRCL) has recently informed exchanges that the company received Rs. 317.69 crore from KNR Muzaffarpur Barauni Tollways Pvt Ltd (KMBTPL) under a settlement agreement with the National Highways Authority of India (NHAI). This includes Rs. 175.83 crore in dues and Rs. 141.86 crore in interest.
The project will be foreclosed and the NHAI will take over toll collections from November 1st, 2024.
Here are the key details of the contract:
- Name of Party to Settlement Agreement: KNR Muzaffarpur Barauni Tollway Private Limited
- Narne of the Opposing Party to Settlement Agreement: National Highways Authority of India
- Narne of the Court/ Tribunal /Agency where Dispute is filed: Conciliation Committee of Independent Experts (“CCIE”)
