The company has not created liquidity backup mechanism in the form of debt service reserve account (DSRA) stipulated in terms of sanction, it said.
In response, the construction major attributed the weak toll collections to various alternate routes available near this project, but said it would clear the pending dues of approximately Rs 6.50 crore today.
"RHTPL and SIPL continue to remain in discussion with National Highway Authority of India (NHAI) to solve this matter. SIPL has supported this project by infusing funds of approx Rs 168 crore upto 31st March, 2019," it said.
SIPL, which is not a guarantor to the debt availed by RHTPL, has a comfortable liquidity position with cash, bank and its equivalent amounting to Rs 170 crore as on 31st March, 2019.
At 10:13 am, the stock recovered 14 per cent from its intra-day low and was trading 7 per cent lower at Rs 67 on the BSE. In comparison, the S&P BSE Sensex remained unchanged at 39,584 points. A combined 82,653 equity shares have changed hands on the counter on the NSE and BSE so far.