IRB stops collecting toll at Kolhapur project
IRB Infrastructure on friday said it has stopped collecting toll on a build-operate-transfer (BOT) project at Kolhapur in Maharashtra
Kolhapur: IRB Infrastructure on friday said it has stopped collecting toll on a build-operate-transfer (BOT) project at Kolhapur in Maharashtra following an interim order by the Bombay High Court.
IRB said it is taking legal advice and hopes to re-commence the collection in the near future. This is the second time that the company has had to stop collecting toll on the same project.
“…in response to the Public Interest Litigations (PIL) filed by Kolhapur residents and Toll Virodhi Kriti Samiti, Honourable Bombay High Court passed an interim order which has temporarily stayed toll collection activity on the project,” IRB said in a BSE communication today.
The company had signed a pact with Maharashtra State Road Development Corporation in 2008 for four-laning of the 49.9-km stretch on BOT basis for a concession period of 30 years till 2039, according to company website.
“The detailed order of the Honourable High Court is awaited. We will proceed in this mater after consultation with our legal counsels,” it said.
“We are confident that we have executed our obligations as per the tender conditions and concession agreement for the project and we are hopeful to re-commence toll collection in near future,” it added.
The engineering and construction firm had to stop toll collection earlier on the same project, run by its wholly- owned Special Purpose Vehicle — IRB Kolhapur Integrated Road Development Co Pvt Ltd.
However, it commenced collecting toll from October 17 last year following withdrawal of suspension on toll notification by Maharashtra government.
The Bombay High Court today restrained IRB Infrastructure Developers from collecting toll on its road projects in Kolhapur city