The NCLT has given approval to the settlement of Rs 7.08 billion claim made by Fagne Sonagarh Expressway Limited (FSEL), a special purpose vehicle of IL&FS, from NHAI. NHAI will pay the settlement amount under approved guidelines for the resolution of road projects that have been stuck for various reasons. The settlement amount, which is to be paid by NHAI directly to the FSEL subcontractors, will be deposited into an escrow account in any nationalised bank and maintained as fixed deposits.
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