Ntbcl
IL&FS to monetise its entire stake in DND flyover connecting Delhi to Noida
IL&FS has decided to sell its entire 26 per cent equity stake in Noida Toll Bridge Company Ltd (NTBCL), which owns and maintains DND flyover connecting Delhi to Noida. IL&FS has decided to monetise this marquee DND flyover, which was built in 2001, as one of the first roads to provide seamless connectivity from Delhi to Noida. IL&FS has around 26 per cent stake in NTBCL, while the Uttar Pradesh government has 5 per cent stake. The remaining shares in the listed company are with the public. The Board has decided to call for a public process to divest its share in the road project and would soon be inviting bids under this initiative, sources said. IL&FS spokesperson confirmed the decision saying "monetisation of road assets is in accordance with the approved resolution framework." The proceeds of the sale would be used for reduction of debt of IL&FS, sources said. So far, IL&FS has resolved an aggregate debt of Rs 57,000 crore and discharged an aggregate debt of
 "IL&FS to monetise its entire stake in DND flyover connecting Delhi to Noida")
We never tried to defend the agreement as perfect: NTBCL vice-chairman
Pradeep Puri, chairman, Noida Toll Bridge Co Ltd, says contract, albeit flawed, should be respected
 "We never tried to defend the agreement as perfect: NTBCL vice-chairman")
