IL&FS group receives Rs 1,925 cr from Haryana govt for Gurgaon metro

Supreme Court had on March 26 directed the state's urban local authority to deposit 80% of the total debt of Rs 2,407 cr within three months into the escrow accounts of two IL&FS firms

IL&FS said on Sunday that it has received Rs 1,925 crore from Haryana Shehari Vikas Pradhikaran (HSVP), the state’s urban local authority, as interim termination payment for the Gurgaon Rapid Metro system that is now run by the Delhi Metro Rail Corporation.

The Supreme Court had, on March 26, 2021, directed HSVP to deposit 80 per cent of the total debt due amounting to Rs 2,407 crore within three months into the escrow accounts of the two IL&FS subsidiaries, Rapid Metro Rail Gurgaon Limited (RMGL) and Rapid Metro Rail Gurgaon South Limited (RMGSL). The use of money that has flowed