Amendment to Master Circular for Infrastructure Investment Trusts (InvITs) dated May 15, 2024 - Board nomination rights to unitholders of InvITs

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....l Depositories Madam/Sir, Sub: Amendment to Master Circular for Infrastructure Investment Trusts (InvITs) dated May 15, 2024 - Board nomination rights to unitholders of InvITs 1. Para 22.3.1. (b) of Chapter 22, titled "Board nomination rights to unitholders of Infrastructure Investment Trusts (InvITs)", of the Master Circular for Infrastructure Investment Trusts dated May 15, 2024 requires as u....

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.... Manager of InvIT, to a unitholder where such nomination right is also available to a unitholder in the capacity of lender to the Investment Manager or the InvIT (or its HoldCo(s) or SPVs). 3. In order to promote ease of doing business and based on the request of the industry and recommendation of Hybrid Securities Advisory Committee (HySAC), it is proposed to insert the following proviso under p....