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TMI BlogBorrowings and deferred paymentsX X X X Extracts X X X X X X X X Extracts X X X X ..... ed by the Board: Provided that such debt securities shall be listed on recognized stock exchange(s).] 2[(2)] The aggregate consolidated borrowings and deferred payments of the InvIT 3[, holdco and the SPV(s),] net of cash and cash equivalents shall 7[not] exceed 8[seventy] per cent. of the value of the InvIT assets. 10[Explanation 1. - Investment by InvITs in overnight mutual funds, characteriz ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rating of the InvIT of] "AAA" or equivalent 13[****] from a credit rating agency registered with the Board; (ii) utilize the funds only for acquisition or development of infrastructure projects; (iii) have a track record of at least six distributions, in terms of sub-regulation (6) of regulation 18, on a continuous basis, post listing, 14[as at the end of the quarter preceding the date on whic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Investment Trusts) (Amendment) Regulations, 2017, w.e.f. 15.12.2017 2 Re-numbered ibid. 3 Inserted by Securities and Exchange Board of India (Infrastructure Investment Trusts) (Amendment) Regulations, 2016, w.e.f 30.11.2016 4 Re-numbered by the Securities and Exchange Board of India (Infrastructure Investment Trusts) (Amendment) Regulations, 2017, w.e.f. 15.12.2017 5 Inserted by Securitie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... otification No. SEBI/LAD-NRO/GN/2023/122 dated 14-02-2023 11. Substituted vide Notification No. SEBI/LAD-NRO/GN/2025/240 dated 01-04-2025 before it was read as, "credit rating from" 12. Substituted vide Notification No. SEBI/LAD-NRO/GN/2025/240 dated 01-04-2025 before it was read as, "a credit rating of" 13. Omitted vide Notification No. S ..... X X X X Extracts X X X X X X X X Extracts X X X X
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