Infrastructure Leasing and Financial Services IL&FS receives interim Payment of Rs 1,925 Cr From Haryana Govt




Gurugran, India (Metro Rail Today): Infrastructure Leasing and Financial Services IL&FS has   received the payment for the Metro Project in Gurgaon. The details have been shared by the department on Sunday, June 27. As per the given information, Department receives Rs 1,925 crore from Haryana Shehari Vikas Pradhikaran (HSVP). The project is managed by the Infrastructure Leasing and Financial Services (IL&FS) subsidiaries and special purpose vehicles (SPVs) – Rapid Metro Rail Gurgaon Ltd (RMGL) and Rapid Metro Rail Gurgaon South Ltd (RMGSL).

On the basis of reports, The department has collected the payment of Rs 1,925 crore for this Gurgaon Metro Project, The payment got in knowledge firstly in March 2021. Initially, the project appeared in 2018 when the payment and other related news announced by officials.

Recently, the Supreme court has issued the notice that HSVP to deposit 80 percent of the total debt due (of over Rs 2,400 crore basis audit conducted by CAG), amounting to Rs 1,925 crore, within three months into the escrow accounts of the two SPVs, the release said.

This amount has been issued by Haryana Shehari Vikas Pradhikiran (HSVP) as an interim payment. It was an essential payment to operate this project continuously. It is a longtime dream of HSVP. The department heading the payment-related issues of this project and will take care of funds to complete this project.

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