NCLT allows IL&FS to sell road projects through InvIT

11 Oct 2021 CW Team

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 9,214 crore. A spokesperson of IL&FS said that the valuation represents a significant recovery from the creditors of special purpose vehicles (SPVs) and the companies who provided debt to these SPVs.

The banks have written their debt to the IL&FS group because it was classified as a non-performing asset.

The InvIT has six road projects, including Barwa Adda Expressway, Baleshwar Kharagpur Expressway, East Hyderabad Expressway, Sikar Bikaner Highway, Moradabad Bareilly Expressway and Jharkhand Road Projects Implementation Company.

The Rs 9,214 crore project was devised by an independent valuer appointed as per SEBI's regulations for InvIT. IL&FS has proposed to complete over Rs 16,000 crore through InvIT. NCLT's approval for the phase-1 project is a part of the process, and in the second phase, InvIT added five more road assets.

Image Source

Also read: IL&FS sells 49% stake in Chinese road asset

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..