IL&FS seeks NCLT approval to place Rs 4,000 crore of assets in InvIT

The IL&FS group has sought approval from the National Company Law Tribunal (NCLT) to move five highway assets of the beleaguered group to an infrastructure investment trust (InvIT). An independent assessment has valued the projects at Rs 4,000 crore, said a company spokesman while confirming the development. The valuation is a regulatory requirement under the Securities and Exchange Board of India (Sebi) rules.
 
With the NCLT approval, a total of 11 projects would be ready for monetisation through the InvIT route. The first tranche of six projects valued at around Rs 9,200 crore already have the NCLT approval.