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TMI BlogRights and responsibilities of investment managerX X X X Extracts X X X X X X X X Extracts X X X X ..... project manager, in the form as may be specified, on a quarterly basis. (3) The investment manager shall ensure that the infrastructure assets of the InvIT or 3 [holdco or] SPV have proper legal titles, if applicable, and that all the material contracts entered into on behalf of InvIT or SPV are legal, valid, binding and enforceable by and on behalf of the InvIT or SPV. (4) The investment manager shall ensure that the investments made by the InvIT are in accordance with the investment conditions specified in regulation 18 and in accordance with the investment strategy of the InvIT. (5) The investment manager, in consultation with trustee, shall appoint the valuer(s), auditor, registrar and transfer agent, merchant banker, custodian and any ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... son under any agreement including a concession agreement or under any Act or regulations or circulars or guidelines of any concessioning authority or government or local body: Provided further that in 6 [case any of the InvIT assets are held] by 7 [holdco or] SPV, the investment manager shall ensure that assets held by the 8 [holdco or] SPV are adequately insured. (8) The investment manager shall ensure that it has adequate infrastructure and sufficient key personnel with adequate experience and qualification to undertake management of the InvIT at all times. (9) The investment manager 9 [and the merchant banker(s)] shall be responsible for all activities pertaining to issue of units and listing of units of the InvIT including, a. filing of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... disclosures or reporting to the unit holders, Board, trustees and designated stock exchanges, are in accordance with these regulations and guidelines or circulars issued hereunder. (15) The investment manager shall provide to the Board and to the designated stock exchanges, where applicable, any such information as may be sought by the Board or the designated stock exchanges pertaining to the activities of the InvIT. (16) The investment manager or its associates shall not obtain any commission or rebate or any other remuneration, by whatever name called, arising out of transactions pertaining to the InvIT other than as specified in the offer document or placement memorandum or any other document as may be specified by the Board for the purp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nager shall coordinate with trustee, as may be necessary, with respect to operations of the InvIT. (21) The investment manager shall ensure that computation and declaration of NAV of the InvIT based on the valuation done by the valuer 14 [, shall be disclosed to the stock exchange(s),] not later than fifteen days from the date of valuation. (22) The investment manager shall ensure that the audit of accounts of the InvIT by the auditor is done not less 15 [once in a year] and such report is submitted to the 16 [***] stock exchange 17 [s] within 18 [sixty] days of end of financial year ending March 31st 19 [***]. (23) The investment manager may appoint a custodian in order to provide such custodial services as may be authorised by the trustee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... agreement and shall obtain compliance certificate from the project manager, in the form as may be specified, on a quarterly basis. 2 Inserted by Securities and Exchange Board of India (Infrastructure Investment Trusts) (Amendment) Regulations, 2016, w.e.f 30.11.2016. 3 Inserted by Securities and Exchange Board of India (Infrastructure Investment Trusts) (Amendment) Regulations, 2016, w.e.f 30.11.2016 4 Substituted for the words assets of the InvIT by the Securities and Exchange Board of India (Infrastructure Investment Trusts) (Amendment) Regulations, 2018, w.e.f. 10.04.2018. 5 Inserted by the Securities and Exchange Board of India (Infrastructure Investment Trusts) (Amendment) Regulations, 2018, w.e.f. 10.04.2018. 6 Substituted ibid for t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Exchange Board of India (Infrastructure Investment Trusts) (Amendment) Regulations, 2016, w.e.f 30.11.2016 15 Substituted by Securities and Exchange Board of India (Infrastructure Investment Trusts) (Amendment) Regulations, 2016, w.e.f 30.11.2016. Prior to the substitution it read as the investment manager shall ensure that the audit of accounts of the InvIT by the auditor is done not less than twice annually and such report is submitted to the designated stock exchange within forty five days of end of financial year ending March 31st and half-year ending September 30th. 16 Omitted by Securities and Exchange Board of India (Infrastructure Investment Trusts) (Amendment) Regulations, 2016, w.e.f 30.11.2016. Prior to the substitution it read ..... X X X X Extracts X X X X X X X X Extracts X X X X
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