https://indianmasterminds.com

ADVERTISEMENT
ADVERTISEMENT

NHAI Opts for Conciliation in Rs 1,461 Crore Dispute with Jaiprakash Associates Over NH-29 Project

The issue is related to the four-laning of NH-29 from Km 14B.000 to Km 20B.300 in Uttar Pradesh under NHDP Phase-IV
NHAI logo
Indian Masterminds Stories

The National Highways Authority of India (NHAI) has initiated a conciliation process to resolve a significant financial dispute with the bankrupt Jaiprakash Associates Ltd (JAL) concerning the Varanasi-Gorakhpur NH-29 road project.

JAL has claimed ₹1,461.63 crore in compensation for delays and cost overruns related to the four-laning of NH-29 from Km 14B.000 to Km 20B.300 in Uttar Pradesh under NHDP Phase-IV. The company’s claims include costs for resource deployment, damages due to land acquisition delays, revised wage payments, and extended project duration.

In response, NHAI has filed counterclaims worth ₹892.24 crore, citing project delays, losses from toll revenue, and other related damages. To seek an amicable resolution, NHAI has referred the matter to its Conciliation and Settlement Committee of Independent Experts.

The development comes as JAL remains under the Corporate Insolvency Resolution Process (CIRP) initiated by ICICI Bank in 2018 over unpaid debts totaling ₹1,269.10 crore. JAL is currently represented by a Resolution Professional, with its board suspended under the Insolvency and Bankruptcy Code, 2016.

The outcome of the conciliation process will be closely watched, given the scale of the dispute and its implications for public infrastructure and insolvency resolution practices in India.


Indian Masterminds Stories
ADVERTISEMENT
ADVERTISEMENT
Related Stories
ADVERTISEMENT
ADVERTISEMENT
NEWS
Himachal Pradesh Police1
Himachal DGP Disc Award List Withdrawn Hours After Announcement Amid Leadership Transition
MP Police
MP Police Shake-Up: 10 IPS Officers Transferred, CM Mohan Yadav Acts Swiftly After Public Incidents
IRSSE (Indian Railway Service of Signal Engineers) officer
IRSSE Gaurav Govil Debarred from Central Deputation for 5 Years Over Non-Compliance with CVO Appointment
Delhi High Court-resized-DelhiHC
Faith vs Discipline: Delhi HC Backs Army in Termination of Officer, Upholds Dismissal For Refusing Religious Parade Participation
IRS Officer Indian revenue Services
Senior IRS Officer Caught in Bribery Case: ₹25 Lakh Seized at Mohali Residence, ₹45 Lakh Demanded – Know the Full Story
PNB Housing Finanace
PNB Housing Finance Elevates Bhavya Taneja as Chief Marketing Officer (CMO) - Know More About Him
Air Marshal Jasvir Singh Mann
Air Marshal Jasvir Singh Mann Takes Over as Senior Air Staff Officer, Western Air Command - Know More About Him
Rajgir Sports
Bihar’s Mega Sports Push: Playgrounds, Stadiums & Talent Hunt Transform State; Over 50 Lakh Students Join
ADVERTISEMENT
ADVERTISEMENT
Videos
IAS Tushar G Nikhare
Modernising Governance: A Digital Transformation in Gangtok
IMG-20250523-WA0036
Abhishek Singh's SECRET: Vipassana, Anthropology & Smart Answer Writing | Video Interview 
Madhav Agarwal UPSC
From Gwalior to the Top 20: What Drove Finance Pro Madhav Agarwal to Crack UPSC CSE 2024 with AIR 16? | Exclusive
ADVERTISEMENT
UPSC Stories
ANUBHAV SINGH UPSC IFS 2024
9 Years, 8 Attempts, 7 Failures: How Anubhav Singh Cracked UPSC IFS 2024 with AIR 3 Against All Odds | Exclusive
Anubhav Singh’s inspiring journey to UPSC IFS Rank 3 showcases relentless perseverance, strategic preparation,...
Jogender Sihag
“I Cleared UPSC, But My Grandfather isn’t Here to Hear it,” Jogender Sihag, AIR 521, UPSC CSE 2024
"Life is short; make the most of it, whether in civil service or any other field. Just have a clear vision...
WhatsApp Image 2025-05-28 at 18.56
Didn’t Clear UPSC But Found Something Greater: A Story That Will Change How You See Success
She left a top finance job for UPSC, did not clear but built a thriving wellness brand instead. Veda's...
Social Media
parveen kaswan elephant
Elephant Outsmarts Electric Fence! IFS Parveen Kaswan Shares Incredible Video!
In the now-viral 51-second clip, the intelligent giant approaches a wooden pole supporting high-voltage...
UPSC Latest IAS IPS IFS
UPSC CSE Prelims 2025 Tomorrow: ICLS Officer Altap Shaikh Shares Last-Minute Motivation for Aspirants
His five-post thread offers encouragement, practical advice, and emotional support - not just for those...
Anupam Sharma IFS
#BoycottTurkey: IFS Officer Anupam Sharma Sparks Nationalist Call to Action
IFS Sharma urged citizens to avoid Turkish agricultural imports
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Latest
Himachal Pradesh Police1
Himachal DGP Disc Award List Withdrawn Hours After Announcement Amid Leadership Transition
MP Police
MP Police Shake-Up: 10 IPS Officers Transferred, CM Mohan Yadav Acts Swiftly After Public Incidents
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Videos
IAS Tushar G Nikhare
IMG-20250523-WA0036
Madhav Agarwal UPSC
ADVERTISEMENT
ADVERTISEMENT