Status of SPVs post conclusion or termination of Concession Agreement

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....Sir, Subject: Status of SPVs post conclusion or termination of Concession Agreement. 1. Regulation 2(1)(zy)(ii) of SEBI (Infrastructure Investment Trusts) Regulations, 2014 ("InvIT Regulations") was amended on April 17, 2026 to include the following proviso - "Provided that, in respect of an SPV holding an infrastructure project, the conclusion or termination of the concession agree....

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....of defect liability period, whichever is later. 2.2. The time taken to obtain relevant statutory or regulatory approvals for exiting investment in such SPV by way of sale / liquidation / winding-up / merger, shall be excluded from the above timeline of one year. 2.3. Further, till the time investment in such SPV is held by the InvIT, adequate disclosures shall be made in....

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....thority. 2.3.2.2. Assets and Liabilities of the SPV (including specific reserves, if any): Provide the nature and amount of respective carrying value of assets and liabilities (including specific reserves, if any) on broad/grouped basis as determined in the annual audited financial statements of the SPV. 2.3.2.3. Contingent Liabilities: Details of Contingent Liabilities of the SP....

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.... statutory/contractual obligations, balance period of defect liability period, etc. 3. This circular shall come into force with immediate effect. 4. This circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992, Regulation 33 and Regulation 2(1)(zy)(ii) of the SEBI (Infrastructure Investment Trusts) Regulations, 2014. ....