NCLT allows IL&FS to sell road projects through InvIT

Infrastructure Leasing and Financial Services (IL&FS) has received approval from the National Company Law Tribunal (NCLT) to sell road projects of its Transportation Networks via Infrastructure Investment Trust (InvIT). After the approval, the company will be able to issue units of InvIT to the major lenders, such as the State Bank of India (SBI), Punjab National Bank, Canara Bank, Bank of India and Indian Overseas Bank. InvIT had already received the final registration from the Securities and Exchange Board of India (SEBI). The road projects sold via InvIT will address the group's debt of Rs.92.14 bn.