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Verticals -- Infrastructure
IL&FS Transportation Investment Trust
  1. Background:
    1. IL&FS Transportation Networks Limited (ITNL), one of the IL&FS Group Company, which is the Holding Company of all the Transportation Assets within the IL&FS Group, has set up an Infrastructure Investment Trust in terms of the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014 (the "InvIT").
    2. IIML Asset Advisors Limited (IAAL), a wholly owned subsidiary of IL&FS Investment Managers Limited has been appointed as an Investment Manager for providing investment management services to the InvIT
    3. The InvIT has, on December 7, 2016, received certificate of registration as an Infrastructure Investment Trust from the Securities and Exchange Board of India
  2. Composition of the IAAL Board:

  3. In terms of the InvIT Regulations, atleast 50% of the board of directors of the Investment Manager is to comprise independent directors. Currently, 75% of the IAAL Board of Directors comprises of independent directors. The Chairman of the Board is a non-executive director. The directors have relevant India, investment, corporate finance and infrastructure sector experience

    The Board members are :
    Name Brief Profile
    Sunil Mehta
    (Chairman, Independent Director)
    • Board Member, SBI
    • Former country head and CEO of AIG India
    • Over 18 years of work experience in Citibank
    • Current MD, SPM Capital Advisors
    Harish Engineer
    (Independent Director)
    • Former head of wholesale banking at HDFC Bank
    • Former Executive Director of HDFC Bank
    James Leslie Whiteford
    (Independent Director)
    • Presently Director of Harkin Management Limited
    • Former Chief Financial Officer for TIR (Holdings) Limited
    • Former Director of JLW Limited
    Ravi Parthasarthy
    (Non-Executive Director)
    • Chairman of IL&FS Group
    • Former Executive Director, 20th Century Finance Corporation Limited

    The Board has formed Committees to ensure compliance with various policies in relation to the InvIT
    1. Audit and Conflicts Committee

      • To comprise such number of members constituting at least 50% of the Board of Directors
      • All members of the Audit and Conflicts committee to be independent directors
      • All related party transactions to be approved by Audit and Conflicts Committee, including investment or divestment decisions
    2. Stakeholders' Relationship Committee

      • Consider and resolve grievances of the unitholders
  4. Key Managerial Personnel of IAAL :

  5. Name Brief Profile
    Vibhav Kapoor
    (Chief Executive Officer)
    • Associated with the IL&FS Group as its Group CIO
    • Previously associated with the Merchant Banking Division of ANZ Grindlays Bank as a proprietary equity portfolio manager
    • Year of Experience: 30+
    Sunita Manwani
    (CFO and Compliance Officer)
    • Associated with the Company since January 2007
    • Former Head of Finance at DHFL Venture India Private Limited
    • Years of Experience: 20+
    Parag Baduni
    (Chief Investment Officer)
    • Participated in 10 infrastructure PE transactions, with experience in Road sector investing
    • Over 11 years of Infra PE experience
    • Year of Experience: 20+