Mumbai, Aug 30 (UNI) Aashit Shah, Partner, J Sagar Associates, has said that infrastructure regulators and Securities and Exchange Board of India (SEBI) would need to work in tandem for a successful insolvency resolution of an INvit which may involve a change in the sponsor, investment manager or trustee or transfer of an infrastructure asset.
In a statement, he said, Invits either acquire a project directly or acquire the shares of the project company. In the latter case, recourse to the IBC will be available where the lending is to the project company. However, in a situation where there is direct lending at the Invit for either acquisition funding, capital expenditure or promoter contribution, the lenders currently do not have recourse…
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