Disclosure of diluted NAV and distributions required while subordinate units exist, ensuring performance benchmark progress is reported. Investment managers must monitor and report progress toward the performance benchmark annually or as specified, after certification by the InvIT's statutory auditor and approval by the trustee and the investment manager's audit committee. The progress must be disclosed in the Annual Report. While subordinate units are outstanding, the investment manager must disclose to the stock exchange the diluted NAV and diluted distribution per unit alongside NAV and distribution per unit. Diluted NAV is defined as InvIT asset value reduced by external debt divided by total ordinary and subordinate units; diluted distribution per unit is total distribution divided by that same total.
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.
Disclosure of diluted NAV and distributions required while subordinate units exist, ensuring performance benchmark progress is reported.
Investment managers must monitor and report progress toward the performance benchmark annually or as specified, after certification by the InvIT's statutory auditor and approval by the trustee and the investment manager's audit committee. The progress must be disclosed in the Annual Report. While subordinate units are outstanding, the investment manager must disclose to the stock exchange the diluted NAV and diluted distribution per unit alongside NAV and distribution per unit. Diluted NAV is defined as InvIT asset value reduced by external debt divided by total ordinary and subordinate units; diluted distribution per unit is total distribution divided by that same total.
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