IL&FS Engineering and Construction Company Ltd updates on Amravati-Chikli road project.

IL&FS Engineering and Construction Company Ltd received a letter of award for Amravati-Chikli Road Project and part of the said project work was sub-contracted by the Company to Skylark Infra Engineering Private Limited (SIEPL)

SIEPL availed bill discounting facility from Tata Capital Financial Services Limited (TCFSL) under its bill discounting facility and the bills were accepted by the Company and co-accepted by the client.

Two Bills of Exchange (BOE) were raised by SIEPL on the Company which were due in month of July 2018. The Company along with client approached TCFSL, amicably discussed the matter and arrived at a settlement with TCFSL.

In view of the foregoing, the Company hereby state that there is no case of wilful default on its part.

Therefore, the company is unable to comment on any implications of the matter referred to in the News Item.

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