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    <title>Encumbrance on units of Infrastructure Investment Trusts (InvITs)</title>
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    <description>Sponsors may create encumbrance on units they are required to hold, provided the encumbrance agreement includes the circular&#039;s creation and invocation conditions and the encumbrance is not invoked during the mandatory holding period. Sponsors must notify the InvIT&#039;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.</description>
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