Pooled investment vehicle recognition enables issuance of debt securities and creation of security interests with lender recourse against trustee. The amendments define pooled investment vehicle to include Indian funds established as trusts or otherwise that raise investor monies and are registered, and classify units or instruments issued by them as securities. They permit pooled investment vehicles to borrow, issue debt securities and grant security interests; on default lenders may proceed against the trustee to realise trust assets and remit any surplus to unit holders.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Pooled investment vehicle recognition enables issuance of debt securities and creation of security interests with lender recourse against trustee.
The amendments define pooled investment vehicle to include Indian funds established as trusts or otherwise that raise investor monies and are registered, and classify units or instruments issued by them as securities. They permit pooled investment vehicles to borrow, issue debt securities and grant security interests; on default lenders may proceed against the trustee to realise trust assets and remit any surplus to unit holders.
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