New Delhi, June 27 (TIWN) IL&FS has received Rs 1,925 crore from Haryana Shehari Vikas Pradhikaran (HSVP) as interim termination payment in the Gurgaon Metro Project case.

The payment, duly received in escrow accounts, comes in compliance of the Supreme Court order of March 26, 2021 that ruled in favour of IL&FS in the Gurgaon Metro Project, developed through IL&FS subsidiaries and Special Purpose Vehicles (SPVs), Rapid Metro Rail Gurgaon Limited (RMGL) and Rapid Metro Rail Gurgaon South Limited (RMGSL).   

The appropriation of any amount from the said escrow accounts shall be subject to further orders of the NCLAT or any other competent legal authority as per the order, which would be duly complied with by IL&FS.  As part of the judgment, the Supreme Court had directed HSVP to deposit 80 per cent of 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.