A Unified Regulatory Approach for the Orderly Development of the Indian Infrastructure Sector: A case for Reforms.

Ruchika Nayyar, Vice President and Head - Legal, GMR Group , India
Chrys Gonsalves, Lead Counsel, GMR, India
Nupur Nadir, Manager - Legal Counsel, GMR GROUP, India

Between fiscals 2008 and 2017, private investment in infrastructure was estimated to be ~Rs 20 lakh crore, or nearly a third of all infrastructure spending during the period. The share, which averaged 37% between fiscals 2008 and 2013, fell 600 basis points (bps) between fiscals 2013 and 2017 as a plethora of stalled projects and stressed assets dampened private participation and risk appetite, as per a CRISIL report (CRISIL Infrastructure Yearbook 2018). This has exposed many risks in the infrastructure regulatory framework leading to sluggish resolution of stressed assets, and inadequate steps to deepen financing sources, involving mainly PPP projects.

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India Contract Infrastructure January 2019 Vol.12, No. 46, Winter 2019

Ruchika Nayyar

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Ms. Ruchika Nayyar is a Law Graduate from Law Centre, University of Delhi with more than 23 years of experience in legal profession. She is spearheading the GMR Legal Team and is instrumental in advising the Group on various legal matters, strategizing the legal actions, successful closure of Debt, Equity and M&A Transactions, development of system and legal processes for the business. She has been associated with M/s. L&T Infrastructure Finance Co. Ltd as Head - Legal (Infra & Project Finance) for 9 years prior to joining GMR. Prior to that, she has also worked with companies viz. Apple Finance Ltd, KSL And Industries Ltd, New India Insurance Co. Ltd., Oriental Bank of Commerce.

Chrys Gonsalves

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Chrys Gonsalves has experience in infrastructure finance and capital markets with a strong understanding of financial products. All round exposure in financial services, both, on the asset and liabilities side of the book.

Nupur Nadir

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Nupur holds an LL.M. in International Business Law from University College London and was admitted to the Bar in 2009. She has over 9 years of experience in the areas of mergers and acquisitions, private equity, infrastructure and project finance. She has advised clients over various sectors including power, airports, roadways, healthcare and telecommunications. She has expertise in transactional matters, from negotiation and drafting of documents to closing of transactions.

GMR GROUP

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GMR Group is one of the fastest growing infrastructure enterprises in the country with a rich and diverse experience spanning three decades. GMR is today a major player in the Infrastructure Sector, with world class projects in India and abroad. The GMR group is headquartered in New Delhi, and has been developing projects in high growth areas such as Airports, Energy, Transportation and Urban Infrastructure.

GMR

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GMR Group is one of the fastest growing infrastructure enterprises in the country with a rich and diverse experience spanning three decades. GMR is today a major player in the Infrastructure Sector, with world class projects in India and abroad. The GMR group is headquartered in New Delhi, and has been developing projects in high growth areas such as Airports, Energy, Transportation and Urban Infrastructure.

GMR Group

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GMR Group is one of the fastest growing infrastructure enterprises in the country with a rich and diverse experience spanning three decades. GMR is today a major player in the Infrastructure Sector, with world class projects in India and abroad. The GMR group is headquartered in New Delhi, and has been developing projects in high growth areas such as Airports, Energy, Transportation and Urban Infrastructure.

India Contract Infrastructure January 2019 Vol.12, No. 46, Winter 2019

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