IL&FS proposes InvIT for road assets
MUMBAI: Bankrupt Infrastructure Leasing and Financial Services (IL&FS) group has proposed the creation of an infrastructure investment trust (InvIT) to house the group’s road assets and compensate lenders by offering units at zero cost.
The group, whose management was superseded by the government in 2018, has submitted the proposal to the Securities and Exchange Board of India (Sebi) but experts say approval could take some time as there are no rules governing the creation of the kind of InvIT proposed by IL&FS.
