Miscellaneous

Jaiprakash Associates’ board has approved the transfer of certain assets and liabilities, including debt of over Rs 118.34 billion, to its subsidiary, Jaypee Infrastructure Development Limited, as a part of its efforts to cut the […]

The Ministry of Power is formulating a scheme to revive 34 stressed thermal powerplants with a total capacity of 40,000 MW by inviting competitive bids from them to supply power to state utilities for five […]

Sadbhav Infrastructure Projects Limited is in the process of refinancing the debt of nine of its eleven road projects, which will result in savings of over Rs 1.27 billion annually. Two subsidiaries of the company […]

The Ind Bharath Group has filed an insolvency petition against Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) to recover dues of over Rs 7 billion from the state utility under the Insolvency and Bankruptcy […]

The National Company Law Tribunal (NCLT) has appointed an interim insolvency professional for SmartCity (Kochi) Infrastructure, after admitting a payment defaultclaim by a creditor against the JV between the Kerala government and Dubai’s Tecom Investments. […]

Supreme Infrastructure has received the nod to restructure its Rs 24.1 billion debt raised from an SBI-led consortium under the Scheme for Sustainable Structuring of Stressed Assets (S4A). Meanwhile, the Reserve Bank of India’s oversight […]

Aiming at a major push for infrastructure, Indian Railways will raise Rs 350 billion with World Bank assistance to create a separate fund for investment in the rail sector. The proposed Railways of India Development […]

Infrastructure Leasing & Financial Services Limited has formed a joint investment platform with American private equity fund house Lone Star for stressed infrastructure projects in India. The platform will have a capital pool of $550 […]

The consortium of lenders of GMR Chhattisgarh Energy Limited has converted the company’s debt to equity under the strategic debt restructuring scheme. Of the company’s total outstanding debt (including accrued interest) of Rs 88 billion, […]

Airtel Payments Bank has rolled out commercial services across the country. The bank, a joint venture between Bharti Airtel (80.1 per cent) and Kotak Mahindra Bank (19.9 per cent), is offering an interest rate of […]

The central government has approved the expansion of the mandate of the Delhi Mumbai Industrial Corridor Project Implementation Trust Fund (DMIC-PITF) and re-designated it the National Industrial Corridor Development and Implementation Trust (NICDIT) for the […]

Ashoka Buildcon Limited (ABL) has achieved financial closure for two road projects in Karnataka, as stated in a letter received from Karnataka Road Development Corporation Limited (KRDCL). The first project entails the augmentation of the […]

Welspun Enterprises Limited has achieved financial closure for Package I of the Delhi-Meerut expressway project. This is the first hybrid annuity-based project to have closed financially. Package I entails a total cost of Rs 8.41 […]

The National Investment and Infrastructure Fund (NIIF) has become operational and will commence funding activities soon. The dedicated fund is indicative of the government’s attempt to make more funds available for the infrastructure sector. Funding […]

The Ministry of Urban Development (MoUD) has announced that the process of credit rating of urban local bodies (ULBs) has begun in 85 cities of which 12 have completed the process. All the cities will […]

The Ministry of Railways (MoR) is in advanced stages of finalising a proposal to create a $5 billion fund, the Railways of India Development Fund (RIDF), to finance its various infrastructure projects. Once the proposal […]

The National Payments Corporation of India has launched an online payments solution – the unified payments interface (UPI) – that will combine multiple bank accounts into a single mobile application of a participating bank. Further, […]

RBI has granted a payments bank licence to the JV between Airtel M Commerce Services Limited (a subsidiary of Bharti Airtel) and Kotak Mahindra Bank. In August 2015, RBI had given in-principle approval to 11 […]