SBI seeks senior creditor status in NHAI InvIT

State Bank of India has sought senior creditor status in the National Highways Authority of India (NHAI) Infrastructure Investment Trust (InvIT). This is to gain early rights to secure repayment in case the InvIT defaults and undergoes a liquidation process. The bank has made an official communication to the NHAI seeking this status. Under the current InvIT regulations, InvITs are not governed by India’s bankruptcy laws, and ­usually, unitholders of these trusts hold priority in the repayment hierarchy.