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NEW DELHI: Infrastructure Development Finance Company, the lead financier of the Delhi-Gurgaon expressway, has claimed a solution to the highway project will be found in the next seven days when it submits its final proposal before the Delhi high court. That solution, government sources said, could finally pave the way for the removal of the toll plaza on the Delhi border at Sirhaul.

“Following a productive meeting with the secretary of the ministry of road transport and highways and the National Highways Authority of India chairman, the senior lenders will be submitting an affidavit to Delhi high court for satisfactory settlement of the case along the lines that has been under discussion for some time,” IDFC chairman Rajiv Lall told TOI.

Lall was in Delhi on Wednesday and held a discussion with senior highways ministry officials, including secretary Vijay Chhibber and NHAI chairman R P Singh. Sources said officials present at the meeting told Lall IDFC should submit the detailed proposal before the court next Monday when the NHAI’s contract termination case comes up for hearing.

The meeting gains importance amid reports of other bankers for the project pushing for a “compensation” clause while agreeing to remove the 32-lane toll plaza. The bankers reportedly want NHAI to compensate them if the toll revenue collected at Kherki Dhaula, which will become the only toll plaza in Gurgaon if the Sirhaul plaza is dismantled, isn’t enough to service the Rs 1,600 crore loan they have extended to the project.

After an over two-year legal battle between NHAI and expressway operator Delhi-Gurgaon Super Connectivity Ltd on the contract termination issue, a proposal prepared by the operator and IDFC was submitted to the highways authority, stating the operator will exit the project.

“There has to be a solution to the crisis so that relaying of the entire stretch starts soon and is completed before monsoon,” said an NHAI official.



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