An operating annuity asset was in financial stress and was struggling with the following challenges:

• Revenue locked up due to Promoter Default = $ 385 Mn
• Withheld Annuities = $ 50 Mn
• Balance Annuities = $ 90 Mn
• Missed Annuities = $ 85 Mn
• Claims on NHAI = $ 160 Mn
• Pending last mile works = $ 45 Mn 

Investor purchased 82% of debt (discount of 50% and investment of $ 62 Mn). iValue managed the entire debt purchase which was completed in March 2020.

iValue has since managed the investment and taken control of the entire project enterprise for the Investor under CIRP with debt resized to $ 112 Mn. iValue has further resolved contractual and balance works issues as follows:

• Withheld Annuities released = $ 50 Mn
• Regular Annuities released = $ 30 Mn
• Missed Annuities & other Claims certification ongoing = $ 240 Mn
• Balance works = completion likely by June 2024