Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
SEBI has amended the Master Circular for Infrastructure Investment Trusts (InvITs) with two key modifications. First, the lock-in provisions for preferential issue of units have been revised to align with Regulation 12(3) of InvIT Regulations, requiring 15% of units allotted to sponsor(s) and sponsor group(s) to be locked-in for three years (25% if the sponsor is not the project manager). Additionally, inter-se transfers of locked-in units among sponsor group entities are now permitted subject to continuing lock-in requirements. Second, SEBI has introduced a comprehensive regulatory framework for follow-on offers by publicly offered InvITs, including filing requirements, disclosure standards, and listing procedures. These amendments took immediate effect on March 28, 2025.
SEBI has amended the Master Circular for Infrastructure Investment Trusts (InvITs) with two key modifications. First, the lock-in provisions for preferential issue of units have been revised to align with Regulation 12(3) of InvIT Regulations, requiring 15% of units allotted to sponsor(s) and sponsor group(s) to be locked-in for three years (25% if the sponsor is not the project manager). Additionally, inter-se transfers of locked-in units among sponsor group entities are now permitted subject to continuing lock-in requirements. Second, SEBI has introduced a comprehensive regulatory framework for follow-on offers by publicly offered InvITs, including filing requirements, disclosure standards, and listing procedures. These amendments took immediate effect on March 28, 2025.
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