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SEBI's August 14, 2026 circular lets InvITs add back debt-funded major maintenance expenses on road projects while computing NDCF, subject to unitholder approval, auditor certification and enhanced disclosures. Amends the July 2025 Master Circular; effective immediately.
Framework for Calculation of Net Distributable Cash Flows for InvITs
14 August 2026Eff. 14 August 202616 min
SEBI’s May 15, 2026 circular expands the permitted use of fresh borrowings for InvITs beyond the 49% leverage limit. InvITs can now use debt for capex, road-sector major maintenance, and refinancing of principal, improving financial flexibility while retaining safeguards.
Permitted use of fresh borrowings for InvITs where Net Borrowings exceeds forty-nine percent of the value of InvIT assets
15 May 2026Eff. 15 May 202620 minOur intelligence engine monitors real-time circulars, master directions, and gazette notifications across India's primary corporate and financial regulatory bodies:
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