The Securities and Exchange Board of India (SEBI) on May 22, 2023, issued a notification regarding the Dematerialization of securities of Hold Cos and SPVs held by Infrastructure Investment Trusts (InvITs).
The following has been stated namely: -
• It has been decided that InvITs shall henceforth hold the securities of Hold Cos and SPVs in dematerialized form only. The Investment Manager of the InvIT shall ensure the same. This is to promote the dematerialization of securities, encourage ease of doing business, and improve transparency in the dealings of securities of Hold Cos/SPVs.
• Further, for existing securities holdings by InvITs in Hold Cos and SPVs in physical form, the Investment Manager of the InvIT is directed to dematerialize the securities of Hold Cos and SPVs of the InvIT on or before June 30, 2023
This has come into force on May 22, 2023
[Notification No. SEBI/HO/DDHS-PoD-2/P/CIR/2023/76]
