Stakeholders move close to remove Gurgaon toll plaza
Good news for all Delhi-Gurgaon travellers; the toll plaza on the Delhi-Gurgaon expressway could be just a week or two from being removed as both the present operator and the lead bankers have agreed to all but one of the proposals for sharing liabilities The only issue need to be fixed is on some additional liabilities which is expected to be resolved in the next few days. The toll plaza poses to be a major traffic bottleneck on the stretch and there have been efforts for its removal for the past two years.
The Delhi high court on Wednesday, after listening to both parties and also the national highways authority, gave a last opportunity to all parties to settle their dispute by Monday. The lead financer of the project, however, struck a discordant note, terming the talks as a “complete waste of time.” Justice Manmohan Singh of the Delhi High Court said to the parties, “Either settle the issue by Monday or get ready to argue the case on that day itself.”
Harish Salve, who was appearing for the lead banker, Infrastructure Development Finance Company (IDFC), told the court categorically that there was no scope left for a settlement. He said, “This is a complete waste of time” and added that the matter be decided by the court as Delhi-Gurgaon Super Connectivity Ltd (DGSCL), the operator, wants an “open ended” settlement which would mean that IDFC would be held liable for any old claims that could surface in future.
It has been learnt that NHAI, IDFC and DGSCL in-principle agreed that the Delhi border toll plaza will have to be dispensed of after the highway ministry issues fresh toll notification. This would mean that only the Kherki Dhaula plaza in operation on the stretch. Secondly, it has been learnt that after IDFC takes over the project all liabilities will go to the bankers.
As per the bilateral agreement between IDFC and DGSCL, DSGCL will be paid by the lenders about Rs 9.65 crore and another Rs 3.85 crore for liabilities of the project. This would also include vendor liabilities and the severance package of employees. NHAI and the Municipal Corporation of Delhi (MCD) also have a share in the toll collections and thus, the bankers will also pay nearly Rs 16 crore as outstanding dues to them.
The only issue that needs to be resolved before the toll plaza is removed is the claim of liabilities that may surface at anytime during the later days. IDFC wants DGSCL to be liable for any such claims, sources said.
DGSCL issued a statement saying, “The draft consent order references bilateral agreement between IDFC and DGSCL which details out the responsibility and treatment of the various liabilities. These details are still being discussed between IDFC and the concessionaire in order to reach a final agreement.”
Source: The Times of India
Delhi-Gurgaon Super Connectivity Ltd, Delhi-Gurgaon travellers, DGSCL, Gurgaon Toll Plaza, IDFC, Infrastructure Development Finance Company, toll plaza on the Delhi-Gurgaon expressway
