A panel led by C Rangarajan has, in-principle, agreed on a formula that will allow highway developers in stressed projects to back-end majority of their annual premium payable to the government. Under the prescription being worked out, concessionaires are likely to be allowed to postpone up to 75% of their annual premium bid in the first three years of the restructuring period and 50% after that, a senior official aware of the development told ET. It is also unlikely that any penalty will be imposed on developers opting for this rescue measure as originally suggested by finance ministry.
Source : Economic Times
No comments:
Post a Comment