Under various public-private partnership (PPP) models for the acquisition of infrastructure in different sectors, the development of a project is granted in the form of a concession. At the time of award, a concession contract (« CA ») is entered into between the dealer authority and the dealer, with the dealer obtaining certain rights and obligations with respect to the value of the infrastructure, but not full ownership of the asset. Even if a dealer « owns » the asset, the « property » is returned to the appropriate government authority at the end of the concession period. In addition, the unse replacement must obtain the necessary authorizations and approvals on its behalf from the appropriate government authorities, as required by law, but this could result in delays in the implementation of the substitution. exercise of discretion and the substitution process as part of the policy, if NHAI approves the designated entity, the representative, in agreement with the concessionaire, would invite, negotiate and negotiate bids, either through private negotiations or through public auctions or tenders, for the takeover and transfer of the project`s highway, including the concession to the designated entity under the assumption of all the dealer`s debts and obligations to NHAI under the concession agreement and to the delegate under the concession agreement; and « The proposed amendments also aim to implement recent policy initiatives by the Ministry of Road Transport and Highways, such as the resolution of national projects blocked on motorways (NH), the introduction of a concept of mutual silos of the agreement, in addition, the dealer`s promoters/shareholders must agree in advance that they compensate incoming shareholders for all of the dealer`s debts up to the date of the change in the dealer`s control, in accordance with the above « substitution » and with respect to the reference to the title; and NHAI on Wednesday sought advice on the proposed model concession agreement that indicated a smooth substitution of the dealership. « This would essentially allow lenders to transfer the blocked project to another construction company if the former is unable to deliver on time, » said one official. According to the design model … The substitution agreements concluded under various NHAI concession agreements provide the following general framework for the application of the right of substitution – (i) substitution by modification of participation must also be included in the Act and in the substitution agreement, since the current versions of these agreements do not provide for it; However, the substitution agreements do not specify how such a substitution is applied to other agreements concluded by the concessionaire, such as the state aid agreement and the NHAI fiduciary agreement. While the innovation agreement on the NHAI fiduciary agreement (at NHAI, the fiduciary intermediary (designated by the lenders) and the dealer are generally the parties) could be implemented at the same time as the implementation of the ca innovation agreement, the substitution agreements and certification bodies do not specify that NHAI will guarantee that the state aid agreement will also be renewed by the relevant state government at the same time as CA`s innovation.