Lenders, not NHAI have first right to IL&FS' sold highway projects

Of the 13 projects, eight projects are at the operation-and-maintenance (O&M) stage and the remaining are substantially (95 per cent) complete

Even if the 13 completed and incomplete projects of IL&FS are sold, the lenders — and not the Ministry of Road Transport and Highways and the National Highways Authority of India (NHAI) — will have the first right on the funds. 

These disputed projects include three in Assam, two each in West Bengal and Maharashtra, and one each in Meghalaya, Gujarat, Jharkhand, Karnataka, Jammu & Kashmir, and Uttar Pradesh. The arbitration claims in these projects are worth Rs 38.54 billion.

Of the 13 projects, eight projects are at the operation-and-maintenance (O&M) stage and the remaining are substantially (95 per cent)