INFORM: Infrastructure, Projects & Finance – November 2025

In our latest edition, we have shared the trends shaping the infrastructure landscape and key developments in projects and finance, with certain case laws highlighting the judicial perspective.

Case laws:

• Priority of Secured Creditors Upheld Over Government Dues
• One Time Settlement not a Legal Right Holds Bombay High Court
• Unsuccessful Bidders Barred from Challenging Tender Process Absent Illegality or Mala Fides
• SC Invalidates Tender Clause Violating Articles 14 and 19(1)(g) for Lacking Rational Nexus and Restricting Competition
• High Court Reviews Implementation of Sewer and Manhole Mechanization in Gujarat Under PPP Model

Quick Reads:

• NHAI Launches Multi-Lane Free Flow (MLFF) Tolling: India’s Leap Toward Barrier-Free
  Highway
• Bengaluru’s Tunnel Road Project Under Scrutiny: Expert Panel Flag Flaws in DPR
• Global Aircraft Lessors Raise Concerns Over India’s Draft Aircraft Repossession Rules
• NHAI Deploys Network Survey Vehicles (NSVs) for AI – Enabled Highway Condition Monitoring
• India’s Renewable Energy Transition Moves from Speed to System Strength
• States Lean on Infra Trusts to Replicate Delhi’s Monetisation Success
• Government Mulls Additional Financial Support for Highway Developers under BOT Projects

Notifications/Circulars:

• NHAI Declares Updated Rate for Q4 FY 2025-26 for HAM Projects
• Promoting Digital Highways: Government Introduces Incentivized Fee Collection for Non-FASTag Users
• Ensuring Transparency in Rooftop Solar Implementation: MNRE Defines Payment Mechanism under Utility Led Aggregation Model
• SEBI Eases Disclosure Norms for Related Party Transactions: Balancing Transparency with Ease of Doing Business
• Inputs Invited from Power Sector Utilities to Improve Asset Quality
• Draft Electricity (Amendment) Bill, 2025: Aligning Power Sector Reforms with Industry and Clean Energy Goals
• Compensating Toll Operators: NHAI’s SOP and Supplementary Agreement for the Annual Pass Scheme
• Clarifying Utility Shifting Costs: NHAI Revises Policy to Streamline Reimbursements for Future Projects
• RBI Proposes New Infrastructure Risk Weights for NBFCs: Draft Amendment to Scale-Based Regulations