TaxTMI 
TaxTMI 
Investment of fund moneys
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....k Account) shall be deemed to be moneys accruing to the fund after that date; (ii) scheduled bank means the State Bank of India constituted under the State Bank of India Act, 1955 (23 of 1955), a subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959 (38 of 1959), a corresponding new bank constituted under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970), [or under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980),] or any other bank, being a bank included in the Second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934). ^1[(2) The manner of investment referred to in sub-rule (1) shall be in accordance with the following Table, namely:- TABLE INVESTMENT PATTERN Sl. No. INVESTMENT Percentage amount to be invested in items referred to in column(2) (1) (2) (3) i. Government Securities and Related Investments: (a) Government Securities; (b) other securities, as defined in section 2(h) of the Securities Contracts (Regulation) Act, 1956, the principal whereof and interest whereon is full....
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....evelopment of infrastructure: Provided that any structural obligation undertaken or letter of comfort issued by the Central Government, Indian Railways or any Authority of the Central Government, for any security issued by a body corporate engaged in the business of infrastructure, which notwithstanding the terms in the letter of comfort or the obligation undertaken, fails to enable its inclusion as security covered under subclause (b) of clause (i), shall be treated as an eligible security under this subcategory; (ii) Infrastructure and affordable housing Bonds issued by any scheduled commercial bank, which meets the conditions specified in sub-clause (d) of clause (ii); (iii) Listed (or proposed to be listed in case of fresh issue) securities issued by Infrastructure debt funds operating as a Non-Banking Financial Company and regulated by the Reserve Bank of India; (iv) Listed (or proposed to be listed in case of fresh issue) units issued by Infrastructure Debt Funds operating as a Mutual Fund and regulated by Securities and Exchange Board of India. Minimum thirty-five per cent. and upto forty-five per cent. iii. Short-term Debt Instru....
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....tive of the proportion of investments specified in clause (i) of the said table, exposure of a trust to any Individual Mutual Fund, under sub-clause (c) of the said clause, which has been set up as a dedicated fund for investment in Government Securities, shall not exceed five per cent. of its total portfolio at any point of time and fresh investments made in them shall not exceed five per cent. of the fresh accretions in the year: Provided also that the investment stated in sub-clause (b) of clause (ii) shall be made only in such Tier-I bonds which are proposed to be listed in case of initial offering of the bonds and if such Tier-I bonds are listed and regularly traded, investment shall be made in such bonds of a Scheduled commercial Bank from the Secondary Market: Provided also that the total portfolio invested, at any time, in Tier I bonds referred to sub-clause (b) of clause (ii) of the said Table shall not be more than two per cent. of the total portfolio of the fund; and (i) no investment in initial offerings shall exceed twenty per cent. of the initial offering, (ii) the aggregate value of Tier I bonds of any particular bank held by the fund at any p....
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.... least two credit rating agencies registered with the Securities and Exchange Board of India and if paper has been rated by more than two rating agencies, the two lowest of the ratings shall be considered: Provided also that investment in sub-clause (a) of clause (iii) of the said Table in Certificates of Deposit of up to one year duration issued by scheduled commercial banks will require the bank to satisfy all conditions mentioned in sub-clause (d) of clause (ii) of the said table: Provided also that the aggregate portfolio invested in such mutual funds stated in sub-clause (b) of clause (iv) of the said Table shall not be in excess of five per cent. of the total portfolio of the fund at any point in time and the fresh investment in such mutual funds shall not be in excess of five per cent. of the fresh accretions invested in the year: Provided also that the portfolio invested in derivatives in terms of contract value shall not be in excess of five per cent. of the total portfolio invested in sub-clauses (a) to (d) of clause (iv) of the said Table: Provided also that investment under clause (v) of the said Table shall only be in listed instruments or fresh issues that....
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.... manner provided in the Table: Provided also that if the fund has engaged services of professional fund manager or asset managers for management of its assets, payment to whom is made on the basis of the value of each transaction, the value of funds invested by them in any mutual fund mentioned in any of the clauses of the Table or Exchange Traded Funds or Index Funds shall be reduced before computing the payment due to them. Explanation 1.- The manner of investment specified in this sub-rule shall apply to the aggregate amount of investible moneys with the fund in the previous year. Explanation 2.- For the purposes of this sub-rule,- (i) Fresh accretions to the funds shall be the sum of un-invested funds from the past and receipts like contributions to the funds, dividend, interest, commission, amount received on the maturity of investment made prior to the 1st day of April, 2015 etc., as reduced by obligatory outgo during the financial year. (ii) the expression "Government securities" shall have the meaning assigned to it in clause (b) of section 2 of the Securities Contracts (Regulation) Act, 1956; (iii) the expression "Infrastructure" for the....
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....tor banks; and/or (c) in Collateral Borrowing and Lending Obligation (CBLO) issued by Clearing Corporation of India Limited and approved by the Reserve Bank of India; Thirty percent (iv) to be invested in any of the above three categories, as decided by their Trustees Thirty per cent : Provided that any moneys received on the maturity of investments made prior to the 1st day of April, 2005, reduced by obligatory outgoings, shall be invested in accordance with the manner of investment specified in this sub-rule : Provided further that the trustees, subject to their assessment of the risk-return prospects, may, if they so decide, divide the total portfolio referred to in clause (i) and sub-clause (a) of clause (ii) of the said Table into tradable and non-tradable categories and upto ten per cent of the said portfolio at the end of the preceding financial year can be treated as tradable and may be used for active management : Provided also that the tradable portfolio of Government securities mentioned in the second proviso shall be marked to the market and the mutual funds, which have b....