Get InvITs under purview of bankruptcy law: SBI MD Ashwini Kumar Tewari

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Get InvITs under purview of bankruptcy law: SBI MD Ashwini Kumar Tewari - Business Standard

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Ashwini Kumar Tewari, the managing director of the bank, said lenders need the assurance of being able to recover their dues from InvITs in case of a default and added that they are in touch with the Reserve Bank and the government on the same.

"We need to bring these trusts, which are bankruptcy remote, within the purview of the IBC because that will go a long way in giving us the assurance that this is like any other asset," Tewari said, addressing an NBFC event organized by industry lobby Assocham here.

Infrastructure investment trusts (InvITs) are enjoying immunity from insolvency proceedings and should be brought under the Insolvency and Bankruptcy Code, a top official from SBI said on Friday.