Legal7 April 2026 at 01:11 pm
Highway Infrastructure Ltd. Withdraws LOA for Venkatapalem Fee Plaza, Faces Rs. 26.33 Lakh Penalty
AI Summary
Highway Infrastructure Ltd. has announced the withdrawal of the Letter of Acceptance (LOA) issued by the National Highway Authority of India (NHAI) for the operations of Venkatapalem Fee Plaza in Andhra Pradesh. The decision was made due to the project's lack of commercial viability. As a result, NHAI imposed a penalty of Rs. 26,33,000 on the company. The company is requested to take note of the information provided.
Key Highlights
- Highway Infrastructure Ltd. withdraws LOA for Venkatapalem Fee Plaza operations
- NHAI imposes penalty of Rs. 26,33,000 on the company
- Project deemed not commercially viable
- Penalty imposed due to non-acceptance of LOA
- Company requested to take note of the information