Gas helio infra12/4/2023 On transfer to the InvIT, these SPVs would move away from debt servicing moratorium extended to IL&FS Group companies and will start servicing their debt, resulting in resolution of these SPVs. The valuation presents a significantly improved recovery for the creditors of these SPVs as well as group companies that have provided debt to these SPVs. On transfer to the InvIT, these SPVs would start servicing the debt of IL&FS group companies. The valuation presents a significantly improved recovery for the creditors of these SPVs, as well as group companies that have provided debt to these SPVs. appointed in accordance with regulations laid down by the Securities and Exchange Board of India (Sebi). The special purpose vehicles (SPVs) of these six projects would be transferred to the InvIT at an aggregate valuation of ₹9,214 crore, determined by an independent valuer. Ltd, to Roadstar Infra Investment Trust under its InvIT phase-I. IL&FS had earlier said that it proposes to transfer six road projects, including the Barwa Adda Expressway Ltd, Baleshwar Kharagpur Expressway Ltd, Sikar Bikaner Highway Ltd, East Hyderabad Expressway Ltd, Moradabad Bareilly Expressway Ltd, and Jharkhand Road Projects Implementation Co. In FY18, the total revenue of Moradabad Bareilly Expressway Ltd was ₹300.16 crore, which is 3.07% of the consolidated revenue of ₹9,778.92 crore of the company in that year. IL&FS received approval for launching phase-I of its InvIT from the National Company Law Tribunal (NCLT) in late October.
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