NHAI forfeits Rs 1.6 crore performance security over toll overcharging
INNOVISION · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
NHAI has forfeited Rs 1.60 crore of Innovision's performance security linked to its toll collection contract at Diengpasoh Fee Plaza on the Shillong Bypass. The action follows a Deloitte forensic audit that found excess toll collection of about Rs 240 across 8 FASTag transactions, triggering three penalty incidents under the contract. Innovision plans to file a writ petition in court to challenge the order. NHAI has also reserved the right to recover the amount from other ongoing Innovision contracts or common bank guarantees if needed.
Up to Rs 1.6 crore financial exposure; company is legally challenging, so outcome uncertain. Watch for court ruling and any further NHAI actions.