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[Cites 0, Cited by 0] [Section 12(3)] [Section 12] [Entire Act]

Securities And Exchange Board Of India - Subsection

Section 12(3)(iv) in Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014

(iv)in case such holding of sponsor in the SPV results in the InvIT not having controlling interest and not having more than fifty [one] [Inserted by Notification No. SEBI/LAD-NRO/G.N./2016-17/021, dated 29.11.2016 (w.e.f. 26.9.2014).] per cent. shareholding or interest in the SPV, the sponsor shall enter into a binding agreement with the InvIT to ensure that decisions taken by the sponsor including voting with respect to the SPV are in compliance with these regulations and not against the interest of the InvITs or the unit holders and shall be subject to further guidelines as may be specified by the Board.