The Union Cabinet gave its approval to National Highways Authority of India (NHAI) to set up infrastructure investment trusts (InvITs) as per InvIT Guidelines issued by SEBI to monetize highway assets.
About:
NHAI's InvIT will be a Trust established by NHAI under the Indian Trust Act, 1882 and Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014.
The InvIT Trust will be formed with an objective of investment primarily in infrastructure projects (as defined by Ministry of Finance). InvIT may hold assets either directly or through an Special Purpose Vehicle (SPV) or a holding.
Significance: This will enable NHAI to monetize completed National Highways that have a toll collection track record of atleast one year and NHAI reserves the right to levy toll on the identified highway.
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