Regulation 17E - Progress related to achievement of performance benchmark - Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014

1 [Progress related to achievement of performance benchmark. 17E. (1) The investment manager shall monitor the progress related to the achievement of performance benchmark and shall report such progress annually or with such frequency as may be specified by the Board, after certification by the statutory auditor of the InvIT and approval of the trustee and the audit committee of the investment manager. (2) The investment manager shall disclose the progress related to achievement of performance benchmark in the Annual Report of the InvIT. (3) The investment manager shall disclose the diluted NAV and the diluted distribution per unit to the stock exchange along with NAV and distribution per unit till the time subordinate units are outstanding. Explanation. For the purpose of this sub-regulation (a) diluted NAV or diluted net asset value means the value of the InvIT assets reduced by the external debt divided by the total number of outstanding ordinary units and subordinate units; and (b) diluted distribution per unit means the value of total distribution, divided by the total number of outstanding ordinary units and subordinate units. ] **************** NOTES:- 1. Inserted vide Notification No. SEBI/LAD-NRO/GN/2024/182 dated 27-05-2024