Png Tollway Limited v. National Highways Authority Of India & ANR.

$~30 * IN THE HIGH COURT OF DELHI AT NEW DELHI + O.M.P.(I) (COMM.) 275/2016 PNG TOLLWAY LIMITED ..... Petitioner Through Mr Arpan Behl, Advocate.

versus NATIONAL HIGHWAYS AUTHORITY OF INDIA & ANR.

..... Respondents Through Mr Mukesh Kumar, Advocate for NHAI.

Mr Rajiv Kapur, Advocate.

CORAM:

HON'BLE MR. JUSTICE VIBHU BAKHRU

O R D E R

% 11.01.2017 The petitioner has filed the present petition, inter alia, praying as under:- "(a) Pending payment of the Termination Payment by the Respondent No.1, pass an order, inter-alia directing the Respondent No.1 to deposit the toll revenue collected by the Respondent No.1 in the Project, from the date the Project is handed over, viz., 13.04.2016 and the toll revenue currently being collected by the Respondent No.1 in the Escrow Account until the Termination Payment is made; (b) Pass an order directing the Respondent No.2 to refrain from initiating any action towards classifying/declaring the Petitioner as a Non Performing Asset. "

The learned counsel for the respondent states that a substantial part of the termination payment - Rs. 100 Crores - has already been made and the respondent is considering the question of release of the balance amount. In OMP (I) (COMM) 275/2016 Page 1 of 2

view of the above statement, the present petition is disposed of with liberty to the petitioner to move an appropriate application before the Tribunal as and when constituted.

VIBHU BAKHRU, J JANUARY 11, 2017 pkv OMP (I) (COMM) 275/2016 Page 2 of 2