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ARTICLE · 21 JULY 2023

Rocky Road For Termination Payments

Shardul Amarchand Mangaldas & Co
Shardul Amarchand Mangaldas & Co
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Shardul Amarchand Mangaldas & Co

Shardul Amarchand Mangaldas & Co

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During a recent visit to Japan, the Finance Minister emphasised that building infrastructure and attracting investments will be the key focus areas for India to emerge as a developed nation...

IndiaGovernment, Public Sector
Anurag Dwivedi
Anurag Dwivedi
Shashwat Bhaskar
Shashwat Bhaskar
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During a recent visit to Japan, the Finance Minister emphasised that building infrastructure and attracting investments will be the key focus areas for India to emerge as a developed nation in the next 25 years. Public Private Partnership (PPP) projects will form a sizable chunk of these investments. Since 1990, 1168 PPP projects across 11 sectors, such as roads, ports and airports, with an aggregate investment of over USD 295 billion, have achieved financial closure in India. To implement the PPP model, the relevant governmental authority usually enters into model concession agreements with 'concessionaires', which are private participants in PPP projects. Concession agreements are standardized contracts issued by the Government, consisting the terms and conditions governing the projects. While the PPP model has flourished and concession agreements have been upgraded from time to time, some of its most critical aspects continue to face hurdles – such as termination

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