NCLT approves Kalyan Toll’s resolution plan for Lanco Hoskote Highway

The National Company Law Tribunal has approved a Rs 2.01 billion resolution plan proposed by Kalyan Toll Infrastructure Limited for Lanco Infratech Limited’s Bengaluru-Hoskote-Mulbagal toll road project. The Lanco Hoskote Highway Limited project will be the first national highway asset to change hands through the corporate insolvency resolution process mechanism. The tribunal’s Hyderabad bench has approved the proposal submitted to it by the company’s committee of creditors comprising the State Bank of India and Edelweiss Asset Reconstruction Company Limited. It includes an upfront payment as well as deferred payments till March 2022.

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