Valuation of assets

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....aluation shall be conducted by the valuer not less than once in every financial year: ^4[Provided that such full valuation shall be conducted as at the end of the financial year ending March 31st and the valuation report shall be submitted by the investment manager to the designated stock exchange(s) along with the annual financial results.] (5) A half yearly valuation of the assets of the InvIT shall be conducted by the valuer ^5[as at the end of] the half-year ending September 30th for a publicly offered InvIT for incorporating any key changes in the previous six months and such half yearly valuation report shall be ^6[submitted by the investment manager to the designated stock exchange(s) along with the quarterly financial results ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nt: Provided that such valuation report shall not be more than six months old at the time of such offer: Provided further that this shall not apply in cases where full valuation has been undertaken not more than six months prior to such issue and no material changes have occurred thereafter. (8) For any transaction of purchase or sale of infrastructure projects, whether directly or through ^1[holdco and/or] SPVs, for publicly offered InvITs,- (a) a full valuation of the specific project shall be undertaken by the valuer; (b) if,- (1) in case of a purchase transaction, the asset is proposed to be purchased at a value greater than hundred ten per cent of the value of the asset as assessed by the valuer; ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....) (Amendment) Regulations, 2017, w.e.f. 15.12.2017. Prior to the omission, the sub-regulation read as follows: "(10) Any valuation undertaken by any valuer shall be in compliance with by international valuation standards and valuation standards as may be specified by Institute of Chartered Accountants of India for valuation of infrastructure assets or such other valuation standards as may be specified by the Board: Provided that in case of any conflict, standards specified by Institute of Chartered Accountants of India shall prevail." 3. Inserted vide NOTIFICATION No. SEBI/LAD-NRO/GN/2019/10 dated 22-04-2019 4.  Substituted vide F. No. SEBI/LAD-NRO/GN/2025/259 dated 01-09-2025 before it was read ....