Securities And Exchange Board Of India - Subsection
Section 10(12) in Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014
(12)The investment manager shall review the transactions carried out between the project manager and its associates and where the project manager has advised that there may be a conflict of interest, shall obtain confirmation from the auditor [practicing chartered accountant or the valuer, as applicable,] [Inserted by Notification No. SEBI/LAD-NRO/G.N./2016-17/021, dated 29.11.2016 (w.e.f. 26.9.2014).] that such transaction is on arm's length basis.
