IL&FS Completes Rs 6,145 Cr Transfer of Chenani–Nashri Tunnelway to Cube Highways

Chenani–Nashri-Tunnelway
IL&FS Group has completed the transfer of its subsidiary, Chenani Nashri Tunnelway Limited (CNTL), to Cube Highways & Infrastructure II Pte Ltd, marking one of the group’s largest asset resolutions. Cube will make total payments of about Rs 6,145 crore, including the settlement of Rs 5,454 crore in debt owed to a consortium of public and private sector lenders. The settlement process is expected to be completed in the coming days.

The transaction ensures strong lender recoveries ranging from 98% to 124%, depending on individual exposure and seniority, making it one of the most successful resolutions under the IL&FS framework.
📅 Published on: 21 November 2025
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