REG - Noida Toll Bridge Co - Court Ruling <Origin Href="QuoteRef">NOID.NS</Origin>

Noida Toll BridgeAnnouncement

26/10/2016 14:05

RNS Number : 5383N
Noida Toll Bridge Co. Ltd.
26 October 2016
Noida Toll Bridge Company Limited
("NTBCL" or the "Company")
Regd. Office: Toll Plaza, DND Flyway, Noida 201 301, Uttar Pradesh, India
Court Ruling
As has been disclosed in the annual reports of the Company, the local resident welfare associations (Federation of Noida Resident Welfare Associations FONRWA) had filed a Public Interest Litigation ("PIL") in the Allahabad High Court challenging the validity of the Concession Agreement entered into between NOIDA and Noida Toll Bridge Company. The PIL had been filed in the year 2012.
The Honourable High Court of Judicature at Allahabad has pronounced its judgement today at 4pm ("Indian time"). The judgement although upholding the Concession Agreement has held the two specific provisions relating to levy and collection of fee to be inoperative and has directed the Company to stop collecting the user fee thereby making the facility Toll Free. The Company in compliance with the Judgement of the Honorable High Court of Allahabad has stopped collection of user fee subject to the outcome of its appeal against the said judgement before the Honourable Supreme Court of India. The Company is in the process of filing an appeal with the Supreme Court, against this judgement. The rights of the Company to the DND under the Concession Agreement remain valid and remains an asset of the Company.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
For further details please contact: 
Noida Toll Bridge Company Limited 

Harish Mathur 
00 91 120 2516380




Cairn Financial Advisers LLP

Sandy Jamieson, Emma Earl 
00 44 207 213 0880
About the Company:
NTBCL is a special purpose vehicle promoted by Infrastructure Leasing and Financial Services Limited, a specialist financial institution focusing on the development and financing of infrastructure, to construct and operate the Delhi Noida Toll Bridge on a build, own, operate and transfer basis. The Delhi Noida Toll Bridge is a tolled facility connecting Noida to South Delhi across the Yamuna River. The Company's principal business is operating the bridge and the Company generates revenues mainly through the levy of toll charges on users of the bridge.

This information is provided by RNS
The company news service from the London Stock Exchange
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