In the news
8 Apr 2021

IL&FS Sells Environment Biz to Cut Rs 1.2k-cr Debt

Debt-laden Infrastructure Leasing & Financial Services (IL&FS) said it sold its entire stake in IL&FS Environmental Infrastructure & Services (IEISL) and its subsidiaries to EverEnviro Resource Management (EverEnviro). This sale will reduce IL&FS' overall debt by Rs 1,200 crore, which is the combined debt of entities under the group's environment businesses, a release said.

Press release
7 Apr 2021

IL&FS SELLS ITS ENVIRONMENT BUSINESS TO EVERSOURCE

IL&FS has sold its stake in Environment business - IL&FS Environmental Infrastructure & Services Limited (“IEISL”) and its subsidiaries - to EverEnviro Resource Management Private Limited (“EverEnviro”), a 100% owned subsidiary of the Green Growth Equity Fund (“GGEF”), India’s leading climate fund, managed by EverSource Capital. IL&FS, as the promoter shareholder of IEISL, held 97.54 per cent of equity shares of IEISL. The balance 2.46 per cent was held by IL&FS Employee Welfare Trust. The entire shareholding in IEISL, held by IL&FS Group, has been transferred to EverEnviro This sale will reduce IL&FS overall debt by Rs 1,200 crore - which is the combined debt of entities under IL&FS’ environment businesses.

In the news
5 Apr 2021

NHAI pays Rs 693cr to settle 2 IL&FS projects

The National Highway Authority of India (NHAI) has paid Rs 693 crore to IL&FS Transportation Networks (ITNL) as compensation for contracts related to Kiratpur Ner Chowk Expressway (KNCEL) and Chenani Nashri Tunnelway (CNTL).

In the news
5 Apr 2021

IL&FS Gets Rs 693-cr Settlement for Two Road Projects from NHAI

IL&FS has received Rs 693 crore in settlement claims for two road projects from the National Highways Authority of India (NHAI), the company said. This is part of the conciliation process of the NHAI to resolve stuck projects. ITNL, a subsidiary of IL&FS, received the settlement amount of Rs 673 crore for Kiratpur Ner Chowk Expressway and about Rs 20 crore towards claims for Chenani Nashri Tunnelway Ltd (CNTL) on March 31.

In the news
5 Apr 2021

IL&FS arm gets Rs 1,804 cr from NHAI towards claims

An arm of IL&FS has received Rs 1,804 crore as claim settlement from the National Highways Authority of India (NHAI). This would help the subsidiary address its Rs 3,500 crore debt. "NHAI and the Ministry of Road Transport and Highways have settled aggregate IL&FS claims of over Rs 1,804 crore across six road projects," said an official statement. IL&FS Transportation Networks on March 31, received a settlement amount of Rs 673 crore for Kiratpur Ner Chowk Expressway and Rs 20 crore towards claims for Chenani Nashri Tunnelway from NHAI.

In the news
5 Apr 2021

Sale of stake in China road asset fetches IL&FS Rs 1k cr

Debt-ridden Infrastructure Leasing and Financial Services (IL&FS) on Thursday announced completion of 49% stake sale in its Chinese road asset -Chongqing Yuhe Expressway Co Ltd (CYEC). The stake was sold to China Merchants & PingAn Infrastructure Phase 1 Equity Investment Fund (Tianjin) Co Ltd (PingAn), a fund jointly owned by PingAn Insurance and China Merchants, a release from the IL&FS Group said.

In the news
5 Apr 2021

IL&FS receives Rs 693 crore settlement claims from NHAI for two projects

IL&FS Transportation Networks (ITNL), a subsidiary of IL&FS, on Sunday said it has received a settlement amount of Rs 673 crore for Kiratpur Ner Chowk Expressway (KNCEL) and Rs 20 crore towards claims for Chenani Nashri Tunnelway (CNTL), from the National Highways Authority of India (NHAI). The amount was received on March 31, Infrastructure Leasing and Financial Services (IL&FS) said in a statement

In the news
5 Apr 2021

IL&FS gets Rs 693 cr for 2 road projects

Debt-laden Infrastructure Leasing & Financial Services Ltd (IL&FS) said on Sunday that its unit ITNL has received a settlement amount of Rs 673 crore for Kiratpur Ner Chowk Expressway Ltd (KNCEL) and Rs 20 crore towards claims for Chenani Nashri Tunneway Ltd (CNTL) from the National Highways Authority of India (NHAI). With these two projects, NHAI and the ministry of road transport and highways (MoRTH) have settled claims of more than Rs 1,804 crore so far across six road projects of IL&FS

Press release
4 Apr 2021

IL&FS RECEIVES RS 693 CRORE SETTLEMENT CLAIMS FOR TWO ROAD PROJECTS FROM NHAI

ITNL, a subsidiary of IL&FS, on March 31, 2021 has duly received settlement amount of Rs 673 crore for Kiratpur Ner Chowk Expressway Limited (KNCEL) and Rs 20 crore towards claims for Chenani Nashri Tunnelway Limited (CNTL) - from National Highways Authority of India (NHAI). With these two projects, NHAI and MoRTH have settled aggregate IL&FS claims of over Rs 1,804 crore across 6 Road projects.

Press release
1 Apr 2021

IL&FS COMPLETES STAKE SALE IN CHINA ROAD ASSET TO PINGAN, ADDRESSES RS 2,600 CRORE DEBT

In a major step towards resolving overall debt, IL&FS today announced completion of its 49% stake sale in its Chinese Road Asset - Chongqing Yuhe Expressway Co Ltd (CYEC) The stake is sold to China Merchants & PingAn Infrastructure Phase 1 Equity Investment Fund (Tianjin) Co Ltd (PingAn), a fund jointly owned by PingAn Insurance and China Merchants. This is the largest transaction for IL&FS since the sale of its Wind Energy assets to Orix.

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