Encumbrance on InvIT sponsor units: creation allowed but invocation barred during mandatory holding; prompt disclosure required. Sponsors may create encumbrance on units they are required to hold, provided the encumbrance agreement includes the circular's creation and invocation conditions and the encumbrance is not invoked during the mandatory holding period. Sponsors must notify the InvIT's investment manager of creation, release, invocation or other changes within two working days; thereafter the InvIT must disclose the information to stock exchanges within two working days. The unit holding pattern disclosure is amended to record sponsor encumbrance details, and Annexure I specifies required fields.
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Encumbrance on InvIT sponsor units: creation allowed but invocation barred during mandatory holding; prompt disclosure required.
Sponsors may create encumbrance on units they are required to hold, provided the encumbrance agreement includes the circular's creation and invocation conditions and the encumbrance is not invoked during the mandatory holding period. Sponsors must notify the InvIT's investment manager of creation, release, invocation or other changes within two working days; thereafter the InvIT must disclose the information to stock exchanges within two working days. The unit holding pattern disclosure is amended to record sponsor encumbrance details, and Annexure I specifies required fields.
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