https://www.taxtmi.com/acts?id=43322 The entitlement date, entitlement event and the performance benchmark for reclassification of subordinate units to ordinary units must be specified in the Term Sheet; the benchmark must be quantifiable, objective and based on audited financial statements. A minimum holding period of three year applies before entitlement. Extensions are allowed only if contemplated and disclosed in the Term Sheet, limited to one year at a time and no more than two times, available only for unforeseen circumstances such as force majeure or change in law, with explanatory disclosure of impacts and requiring unitholder approval. en-us Tue, 28 May 2024 13:24:04 +0530 Tue, 27 Aug 2024 12:15:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=43322 The entitlement date, entitlement event and the performance benchmark for reclassification of subordinate units to ordinary units must be specified in the Term Sheet; the benchmark must be quantifiable, objective and based on audited financial statements. A minimum holding period of three year applies before entitlement. Extensions are allowed only if contemplated and disclosed in the Term Sheet, limited to one year at a time and no more than two times, available only for unforeseen circumstances such as force majeure or change in law, with explanatory disclosure of impacts and requiring unitholder approval. Act-Rules SEBI Tue, 28 May 2024 13:24:04 +0530 https://www.taxtmi.com/acts?id=43322