Inspection notice requirement for InvITs allows no-notice inspections when the Board finds notice prejudicial to investors. Regulation 28 requires the Board to give not less than ten days' notice to the trustee of the InvIT before ordering an inspection under regulation 27, but ... Summary
Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014
Inspection notice requirement for InvITs allows no-notice inspections when the Board finds notice prejudicial to investors.
Regulation 28 requires the Board to give not less than ten days' notice to the trustee of the InvIT before ordering an inspection under regulation 27, but authorises the Board, by written order, to direct an inspection without such notice where it is satisfied that no notice should be given in the interest of investors. During an inspection, the InvIT and parties to the InvIT are bound to discharge their obligations as provided in regulation 29.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.