October 28, 2016
Noida Toll Bridge - Supreme Court Refuses to Stay HC Toll Free Order
New Delhi: The flyway connecting Delhi and neighbouring Noida will remain toll-free for commuters, with Supreme Court on Friday refusing to stay an Allahabad High Court order restraining Noida Toll Bridge Company Limited from levying the cess, saying it should not claim it has built "a road to the moon".
Allahabad High Court has made Delhi-Noida Toll Bridge Toll Free as the Company owning it i.e. Noida Toll Bridge Co. ( Listed on BSE/ NSE ) has more than recovered its investment and returns.
Delhi Noida Toll Bridge was one of first projects under PPP business model( Private Public Participation ) under the concept of BOOT ( Build , Own , Operate , Transfer ).
However , Delhi - Noida Toll Bridge 's Contract was deeply flawed and totally one sided - in favour of the Contractors and against the Public- a scam
Please read this Post :-
In 1991, a few prematurely retired IAS officers came together to float, in collaboration with some businessmen, a company called Infrastructure Finance & Leasing Services (IF&LS).
For more / complete article , please click :-
Although the Contract ostensibly gave Ownership / Toll Rights for around 30 years ( or less ) , the fine print of the contract allowed de facto perpetual Toll rights ( till eternity )
A clear instance of gross overcharging of the Public by ex Babudom ( IAS lobby ).
also , read