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No deadline for e-way takeover


GURGAON: No time frame has been announced yet by the Infrastructure Development Finance Company (IDFC), for taking over the Gurgaon-Delhi expressway. The present concessionaire, Delhi-Gurgaon Super Connectivity Ltd (DGSCL), said it would continue to manage the toll plazas until any decision was taken in the matter.

Earlier this month, TOI had reported that the National Highway Authority of India (NHAI) board on January 30 had approved the takeover of 74% stake in the project by IDFC, reducing the share of DGSCL to less than 26%.

When contacted, Arun Raste, senior director and head, corporate communications, IDFC, said there is no new development in the matter and assured that the company would make an announcement as soon as any concrete decision was taken.

The IDFC has been in talks with the NHAI and the DGSCL to sort out outstanding issues with them. The IDFC has put certain conditions for the acquisition, and until those are addressed, it will not take over the project, Rajiv B Lall, vice-chairman & managing director, IDFC, had told TOI a month ago.

The DGSCL, meanwhile, continues to manage the e-way. A spokesperson of the company said it has already complied with eight out of nine points mentioned in the memorandum of understanding (MoU) signed in September last year with the NHAI. It was added that repairing of the road at certain stretches has already been carried out.

The spokesperson said the NHAI board had given the approval for the IDFC to acquire a 74% stake in the project in January. When asked about the development over the talks with the IDFC regarding the takeover, the spokesperson said, “We are in the process of mutually working out the various issues pertaining to the takeover, including the points of the September MoU.”

“Currently, we are looking after the management of the e-way and are working on the directives of Punjab and Haryana high court and would be presenting a status report on the work done in the next hearing,” the spokesperson added.

During the last hearing, Gurgaon police had told Punjab and Haryana high court that the DGSCL has failed to do a number of works at the Gurgaon-Delhi expressway, including lighting of the area, construction and expansions of U-turn and repairing of roads.