Infra investment trusts hit new NHAI hurdle

NHAI is reluctant to transfer road assets to InvIT where 2 yrs of operations haven't been completed

As the financial year comes to a close, the first of the promised infrastructure investment trusts (InvITs) are yet to be launched.
 
These were held back, say bankers in the know, on issues from the National Highways Authority of India (NHAI). “NHAI is reluctant to allow transfer ownership of road assets to an InvIT for those assets where two years of operations have not been completed,” said one, who did not wish to be identified. Of the various assets that road developers wish to monetise through the InvIT route, some are recently commissioned ones.
 
In his last public