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Respite for IRB stock from alleged Gadkari nexus
A report in the Hindustan Times states that IRB Infrastructure Developers had received contracts during Gadkari's stint as Maharashtra's minister of public works department from 1994-99.
Later, Mhaiskar (IRB Chairman) bailed out Gadkari's Purti Group and Gadkari's son Nikhil became a director and shareholder of Ideal Energy Projects Limited (IEPL), where Mhaiskar was the executive director, the Hindustan Times report says.
IRB is a one of the leading road infrastructure players in India.
The company possesses India's prime BOT projects in its portfolio viz., the Operation and Maintenance of Mumbai - Pune Expressway, and the four laning of NH-4 from Shil Phata to Dehu Road; two major roads connecting India's commercial capital to the rest of Maharashtra.
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