P&H HC Quashes Case over Allegations Against Judge, Orders Police Awareness on S.215 BNSS  ||  Chhattisgarh HC: Scheduled Tribe Persons Can Voluntarily Choose to be Governed by Hindu Marriage Act  ||  Kerala HC: Intra-Court Appeal Maintainable Against Ex Parte Ad Interim Orders Affecting Remedies  ||  Kerala HC: Failure To Record Victim’s Intellectual Disability isn’t Fatal if Competent to Testify  ||  Calcutta HC Reduces Man's Sentence, Holding Bamboo Stick or Rod Not A Weapon Likely To Cause Death  ||  Kerala HC: Siblings Cannot Claim Compensation for ‘Loss of Love’ in Motor Accident Death Cases  ||  Gujarat HC: Judicial Fixation of Standard Rent Inapplicable to New Construction After 2001 Amendment  ||  Orissa HC: 60-Day Disposal of DV Act Plea May Not be Practical but Long Adjournments Must be Avoided  ||  Madras HC: Minister Regupathy Gave a Mischievous Political Twist to the Thiruparankundram Issue  ||  Jharkhand HC Cautions Officers, Says Citing Proposed SLP in SC to Delay Compliance is ‘In Bad Faith’    

Board nomination rights to unitholders of Infrastructure Investment Trusts (InvITs)- (Securities and Exchange Board of India) (11 Sep 2023)

MANU/SMIS/0078/2023

Capital Market

1. Regulation 4(2)(h) of SEBI (Infrastructure Investment Trusts) Regulations, 2014 ("InvIT Regulations") inter-alia provides that unitholder(s) holding not less than ten percent of the total outstanding units of the InvIT, either individually or collectively, shall be entitled to nominate one director on the board of directors of the Investment Manager, in the manner as may be specified by the Board.

2. Accordingly, the framework to exercise board nomination rights by the Eligible Unitholder(s) has been specified at Annexure - A.

3. Reporting and Monitoring

The Investment Manager of the InvIT shall, within ten days from the end of each calendar month, review whether the Eligible Unitholder(s) who have exercised the board nomination right, continue to have/hold the required number of units of InvIT and make a report of the same. The Investment Manager of the InvIT shall submit such report to the Trustee of the InvIT.

4. This circular shall come into force with immediate effect.

5. This circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 and Regulation 4(2)(h) of the SEBI (Infrastructure Investment Trusts) Regulations, 2014. This circular is issued with the approval of the competent authority.

6. The recognized Stock Exchanges are advised to disseminate the contents of this Circular on their website.

Tags : NOMINATION RIGHTS   UNITHOLDERS   INVITS  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved