October 6, 2022


Picture Supply: BMRCL

Commercial

Bengaluru: Infrastructure Leasing & Monetary Companies (IL&FS) is in a cash-strapped scenario. Questions are actually raised over well timed completion of Namma Metro initiatives on each the strains. These embody the Mysuru Street Station – Kengeri on Mysuru Street stretch as nicely the Okay R Puram Silk Board on Outer Ring Street.

It was in April 2015 that IL&FS bagged the Rs 327-crore contract for development of viaduct and stations on the three.95km route ranging from the present Mysuru Street station to Pattanagere (Attain 2A).

IL&FS -the Mumbai-based infrastructure growth agency can be chargeable for development 4 elevated metro stations: These are at Nayandahalli, Rajarajeshwarinagar, Jnanabharathi and Pattanagere in the direction of Kengeri on the Mysuru Street stretch.

As per sources Bangalore Metro Rail Company Restricted (BMRCL) has issued letter of acceptance to IL&FS Silk Board-Bellandur stretch. Actually as per BMRCL, the corporate emerged winner in all of the three packages. These have been for the 17km ORR metro mission. The three packages have been:

  • Silk Board-Bellandur
  • Bellandur-Doddanekkundi
  • Doddanekkundi-Okay R Puram

BMRCL is now nervous over completion of the mission. The debt laden firm may not be capable of full the metro mission. It’s important that the metro mission is accomplished on time as it’s critical to enhance public transport within the metropolis.

The Mysuru Street stretch in the direction of Kengeri that was the west extension of East-West hall, needed to be accomplished some 27 months again. However IL&FS has been lacking a number of deadlines with BMRCL additionally imposing a advantageous of over 1 crore.

BMRCL is nonetheless, optimistic that work on Mysuru stretch will probably be wrapped up as it’s on the superior levels.

With this new growth the metro officers are considering of exploring different viable choices. However floating new tender would possibly additional delay the mission. BMRCL is now is an ideal Catch-22 scenario.

IL&FS is burdened with a consolidated debt of round Rs 91000 crore. It’s beneath scanner over non-repayment of loans and monetary disclosure. Regulatory companies are retaining an in depth watch over the affairs of the corporate.

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