Rohtak-Panipat Tollway Private Limited terminates concession agreement with NHAI

Rohtak-Panipat Tollway Private Limited (a wholly owned subsidiary of Sadbhav Infrastructure Project Ltd or SPV or RPTPL) vide its letter dated 27th July, 2021 has submitted Notice of Termination of project as per Concession Agreement dated 9th March, 2010 with National Highways Authority of India (NHAI) due to forceful suspension of toll collection / User Fee because of the farmers' agitation / protest with effect from December 25, 2020, amounted to a Force Majeure Event as per the Provisions of the Concession Agreement with NHAI.

National Highway Authority of India ("NHAI") awarded the work of "Four Laning of Rohtak - Panipat Section of NH-71A from km 0.00 (km 63.00 of NH 10) to km 80.858 (km 83.39 of NH-1) in the State of Haryana under NHDP Phase III on Design, Build, Finance, Operate and Transfer ("DBFOT") basis" ("Project").

Shares of Sadbhav Infrastructure Project Ltd was last trading in BSE at Rs. 28.45 as compared to the previous close of Rs. 29.15. The total number of shares traded during the day was 134789 in over 1130 trades.

The stock hit an intraday high of Rs. 29.9 and intraday low of 28.2. The net turnover during the day was Rs. 3889186.

Source : Equity Bulls

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