The Securities and Exchange Board of India (SEBI) on September 11, 2023, issued a circular regarding the Board nomination rights to unitholders of Infrastructure Investment Trusts (InvITs).
The Investment Manager of the InvIT shall, within 10 days from the end of each calendar month, review whether the Eligible Unitholder(s) who have exercised the board nomination right, continue to have/hold the required number of units of InvIT and make a report of the same. The Investment Manager of the InvIT shall submit such report to the Trustee of the InvIT.
The framework to exercise board nomination rights by the Eligible Unitholder(s) has been specified in Annexure-A.
This circular shall come into force with immediate effect.
Kindly find the Annexure attached to the document below.
[Circular No. SEBI/HO/DDHS-PoD-2/P/CIR/2023/153]
