Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
Business expenditure deduction requires proof of genuine commission payments and commercial allowability; turnover growth alone cannot validate the cl...
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SEBI has expanded the permissible use of fresh borrowings by InvITs where net borrowings exceed 49% of InvIT asset value. The borrowings may now be used for capital expenditure to enhance asset performance or augment capacity, for major maintenance expenses in road projects, and for refinancing debt by the InvIT, SPV or Holdco. Major maintenance is limited to non-routine maintenance required under the concession agreement, and road project is confined to the notified roads and bridges infrastructure sub-sector. Refinancing is permitted only for the principal portion of eligible original debt; accumulated interest, charges and fees cannot be refinanced. The circular takes immediate effect.
SEBI has expanded the permissible use of fresh borrowings by InvITs where net borrowings exceed 49% of InvIT asset value. The borrowings may now be used for capital expenditure to enhance asset performance or augment capacity, for major maintenance expenses in road projects, and for refinancing debt by the InvIT, SPV or Holdco. Major maintenance is limited to non-routine maintenance required under the concession agreement, and road project is confined to the notified roads and bridges infrastructure sub-sector. Refinancing is permitted only for the principal portion of eligible original debt; accumulated interest, charges and fees cannot be refinanced. The circular takes immediate effect.
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