The National Highways Authority of India (NHAI) on Tuesday informed the Delhi High Court that it would withdraw a termination order issued to the Delhi-Gurgaon Expressway’s concessionaire as they had sorted out their differences.
Justice S. Muralidhar said: “A memorandum of understanding (MoU) as agreed to by the NHAI, Delhi-Gurgaon Super Connectivity (concessionaire) and Infrastructure Development Finance Company Ltd. (IDFC) and other plaintiffs (collectively referred as lenders) has been signed today.”
“With the signing of the MoU, it is understood by the parties that the termination notice dated Dec 7, 2011, and the subsequent termination order dated Feb 18 issued by the NHAI to the concessionaire stands withdrawn,” the court said.
The court earlier granted time to the NHAI and the DGSCL, operator of the expressway, to settle their differences and consider an out-of-court settlement.
The DGSCL approached the court after the NHAI issued a preliminary termination notice to it Dec 7 last year and a termination order Feb 18.
Disposing of the petition, the court said: “The parties will act in terms of the MoU and will be bound by the terms of the MoU and will perform their obligations mentioned thereunder.”
The NHAI earlier told the court that its board, having members from different central ministries, finalised the draft MoU and it was given to DGSCL.
Senior counsel for DGSCL Neeraj Kishan Kaul said that in response to the board’s terms and conditions the company had given five suggestions to the NHAI chairman.