Borrowings and deferred payments

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....n the manner specified by the Board: Provided that such debt securities shall be listed on recognized stock exchange(s).] ^2[(2)] The aggregate consolidated borrowings and deferred payments of the InvIT ^3[, holdco and the SPV(s),] net of cash and cash equivalents shall ^7[not] exceed ^8[seventy] per cent. of the value of the InvIT assets. ^10[Explanation 1. - Investment by InvITs in over....

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....forty nine percent, an InvIT shall - (i) obtain ^12[issuer credit rating of the InvIT of] "AAA" or equivalent ^13[****] from a credit rating agency registered with the Board; (ii) utilize the funds only for acquisition or development of infrastructure projects ^17[or for such other purposes as may be specified by the Board]; (iii) have a track record of at least six dist....

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....at the conditions are satisfied within six months of such breach.   **************** NOTES:- 1 Inserted by the Securities and Exchange Board of India (Infrastructure Investment Trusts) (Amendment) Regulations, 2017, w.e.f. 15.12.2017 2 Re-numbered ibid. 3 Inserted by Securities and Exchange Board of India (Infrastructure Investment Trusts) (Amendment) Regulations, 2....

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.... as, "(a) credit rating shall be obtained from a credit rating agency registered with the Board; and (b) approval of unit holders shall be obtained in the manner as specified in regulation 22." 10. Inserted vide Notification No. SEBI/LAD-NRO/GN/2023/122 dated 14-02-2023 11.  Substituted vide Notification No. SEBI/LAD-NRO/GN/2025/240 dated 01-04-2025 before it was r....