INFORM: Infrastructure Projects & Finance – September 2023

We present you the maiden issue of the ‘Inform: Infrastructure Projects & Finance’ publication. With these newsletters, we bring you the latest updates on the dynamic intersection of infrastructure projects with banking and finance. Join us to navigate the evolving landscape of infrastructure curated to empower you with strategic intelligence.

The highlights of the current issue are:

Quick Reads – 

• SBI Raises 10 Billion Through 15-year Infrastructure Bonds with a Coupon Rate of 7.54 Percent
• Infrastructure Along the LAC Could Treble in Pace Due to New Forest Laws
• TRAI Recommends No License Fee for Telecom Infrastructure Providers
• India to Launch First Public INVIT for Road and Highway Projects
• Concerns are Raised by CAG Over the Devolution of Authority to NHAI to Evaluate and Approve Government-Funded Projects
• RBI Sets Target for Lenders on CBDC, Unclaimed Deposits

Case Laws – 

• Cessation of Letter of Intent due to Change in the Business Structure Without Prior Permission of the Authority is Valid
• Secured Creditors can use Section 14 of the SARFAESI Act, 2002 After Withdrawing Procedures Under Section 13(4)
• Section 34(4) of The Arbitration and Conciliation Act, 1996 Cannot Save an Award Suffering from Illegality

Notifications/ Circulars – 

• New Guidelines Issued on Penal Charges in Loan Accounts
• Revised Regulatory Framework for IDF-NBFCs
• Reset of Floating Interest Rate on EMI-based Personal Loans: Important Instructions
• Guidelines Released on Bitumen: Demand-Supply, Type A Grade, Specifications, Procurement Source, and Quality for National Highways Projects
• Maintenance of Additional CRR under Section 42(1A) of Reserve Bank of India Act, 1934
• Secretary, Ministry of Road Transport and Highways is Empowered to Extend the Validity of Provisional Permission Beyond Two Years
• States and UTs Urged to Refrain from Imposing Additional Taxes/Fees on Tourist Cars with Valid Permits Under All-India Tourist Cars (Permit) Rules, 2023