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Sadbhav Infrastructure Project Limited Regulatory Filings 2021
62189_rns_2021-08-12_4a22230d-7297-4936-bda5-5f512a317038.pdf
Regulatory Filings
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12th August, 2021
Ref: SIPL/2021-22/0031
To, The Manager (Listing) National Stock Exchange of India Limited "Exchange Plaza", Plot No C/1, G Block BandraKurla Complex, Sandra (E) Mumbai - 400 051
NSE Symbol: SADBHIN (NSE)
Dear Sir/ Madam,
Sub: Disclosure under Regulation 30 of SEBI (LODR) Regulations 2015 - SADBHIN Ref.: Your E-mail dated 10th August, 2021.
With reference to your e-mail dated 10th August, 2021, seeking details of impact of our announcement of dated 28th July, 2021 regarding submission of notice to National Highways Authority of India (NHAI) for Termination of project Rohtak-Panipat Tollway Private Limited ( a wholly owned subsidiary of the Company or SPV or RPTPL) as per Concession Agreement, please note our response as below:
| Detailsof | Details of amendment or reasons for terminations: |
|---|---|
| amendmentor | RPTPL vide its letter dated 27th July, 2021 has submitted Notice of |
| reasonsfor | Termination of project as per Concession Agreement dated 9th March, 2010 |
| terminations | with NHAI due to forceful suspension of toll collection/ User Fee owing to |
| andimpact | the farmers' agitation / protest with effect from December 25, 2020, |
| thereof (to the | amounts to a Force Majeure Event as per the Provisions of the Concession |
| extent possible); | Agreement with NHAI. |
| Impact thereof (to the extent possible): | |
| As the final termination is initiated by the Concessioner, both the processes | |
| i.e. Termination and Conciliation are taken up together, the impact is likely | |
| to be in favour of the lenders as well as the company as the toll collection | |
| was at standstill for more than six months. NHAI, subject to its internal | |
| approval/ requirements being met, will take over the asset. |
We hope the above clarifies and request you to kindly take the same on your records.