IL&FS gets nod for J&K firm's sale to Singapore's Cube
Friday, 1 March 2024
The boards of IL&FS and its group companies have approved the sale of Chenani-Nashri Tunnelway to Cube Highways for Rs 5,300 crore, which would result in lenders recovering almost their entire principal amount of debt. CNTL is the company that operates the Syama Prasad Mookerjee Tunnel - India's longest road tunnel of 9.3km - which is on the Jammu and Srinagar route.
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