Gurgaon Expressway: HC grants time for mulling over DGSCL exit

Amid legal battles over various irregularities concerning Delhi-Gurgoan Expressway, the Delhi High Court was today told that the warring parties have arrived at a settlement with the concessionaire to exit from the project.
A bench of Justice Manmohan Singh was told that the Delhi Gurgaon Super Connectivity Ltd (DGSCL) has reached a settlement with IDFC, a lender to the project, to be substituted by a suitable selectee.
A proposal by senior lenders was also placed before the court saying the selectee, along with the senior lenders, "will agree to construct a toll plaza at km 61 and upon it becoming operational, the toll plazaz at Km 24 and Km 42 shall cease to operate."

The toll charged at the new proposed toll plaza would be the sum of rates charged at the existing toll plazas at km 24 and 42, the proposal says.
During the hearing, DGSCL informed the bench that it has "reached a broad in-principle understanding with IDFC, a lender to the project, to have a comprehensive solution to sort out all pending claims and legal proceedings in the matter."
"The said understanding deals with withdrawing of all claims and legal proceedings by DGSCL and senior lenders against NHAI, substitution of DGSCL by a selectee formed by senior lenders and withdrawal of all legal claims and actions by all parties," the bench was informed.