Securities And Exchange Board Of India - Subsection
Section 20(2) in Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014
(2)The aggregate consolidated borrowings and deferred payments of the InvIT [holdco and the SPV(s)] [Inserted by Notification No. SEBI/LAD-NRO/G.N./2016-17/021, dated 29.11.2016 (w.e.f. 26.9.2014).] net of cash and cash equivalents shall [not] [Substituted 'never' by Notification No. SEBI/LAD-NRO/GN/2019/10, dated 22.4.2019.] exceed [seventy] [Substituted 'forty nine' by Notification No. SEBI/LAD-NRO/GN/2019/10, dated 22.4.2019.] per cent. of the value of the InvIT assets.
