13 July, 2015
Previously, the Infrastructure Debt Fund-Non-Banking Financial Companies (Reserve Bank) Directions, 2011 (IDF NBFCDirections)permitted investment by IDF-NBFCs only in public-private partnership projects (PPP Projects) having a project authority. The circular dated May 14, 2015, amends the IDF NBFC Directions to now allow IDF-NBFCs to invest in non-PPP Projects and PPP projects without a project authority(in sectors where there is no project authority) provided that such investments are in infrastructure projects that have completed at least 1 year of satisfactory commercial operations.
For further information, please contact:
Abhishek Saxena, Partner, Phoenix Legal
abhishek.saxena@phoenixlegal.in
