IL&FS to sell stakes in three road assets as InvIT plan fails

Crisis-hit infrastructure finance firm IL&FS is set to sell its stake in three road projects as part of the resolution process after the company’s new board failed to get approvals to transfer these assets to an infrastructure investment trust (InvIT) as originally planned.

The road projects are Baleshwar-Kharagpur Expressway (BKEL), Jharkhand Infrastructure Implementation Company (JIICL) and Jharkhand Road Projects Implementation Company (JRPICL).