Infrastructure Debt Fund rules limit project exposure, set bond terms, non resident lock in and reporting obligations. Rule 2F requires an Infrastructure Debt Fund to be set up as a Non Banking Financial Company complying with RBI Directions, invest only in PPP and post commencement projects with at least one year of satisfactory commercial operation and a tripartite agreement, issue rupee or foreign currency bonds under RBI and FEMA rules, impose a five year original maturity and three year lock in for non resident investors, cap investment in any project/group at twenty percent of corpus, prohibit investments where sponsor or associate has substantial interest, file returns under section 139(4C), and forfeit IDF status on non compliance.
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.
Infrastructure Debt Fund rules limit project exposure, set bond terms, non resident lock in and reporting obligations.
Rule 2F requires an Infrastructure Debt Fund to be set up as a Non Banking Financial Company complying with RBI Directions, invest only in PPP and post commencement projects with at least one year of satisfactory commercial operation and a tripartite agreement, issue rupee or foreign currency bonds under RBI and FEMA rules, impose a five year original maturity and three year lock in for non resident investors, cap investment in any project/group at twenty percent of corpus, prohibit investments where sponsor or associate has substantial interest, file returns under section 139(4C), and forfeit IDF status on non compliance.
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