Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014
Summary
This part comprises the Preliminary Chapter of the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014, as amended up to April 17, 2026, made under Section 30 read with Sections 11 and 12 of the SEBI Act, 1992. Regulation 1 provides the short title and that the regulations come into force on notification in the Official Gazette, while Regulation 2(1) defines terms including Act, associate, Board, body corporate, bonus issue, certificate, change in control, company, completed and revenue generating project, concession agreement, concessioning authority, credit rating agency, custodian, debt securities and designated stock exchange. Definitions incorporate references to the Companies Act, 2013, the SEBI (Credit Rating Agencies) Regulations, 1999, the SEBI (Custodian of Securities) Regulations, 1996 and the SEBI (Issue and Listing of Debt Securities) Regulations, 2008, and specify conditions for completed and revenue generating projects and for designated stock exchange selection. This part sets out definitions for clauses (o) to (saa) of the Infrastructure Investment Trusts Regulations, including eligible infrastructure project, employee unit o
Text
These regulations may be called the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014.
They shall come into force on the date of their notification in the Official Gazette.
"Act" means the Securities and Exchange Board of India Act, 1992 (15 of 1992);
"associate" of any person "means "associate company" as defined under the Companies Act, 2013 or under the applicable accounting standards and shall also include", – (i) any person controlled, directly or indirectly, by the said person; (ii) any person who controls, directly or indirectly, the said person; (iii) where the said person is a company or a body corporate, any person(s) who is designated as promoter(s) of the company or body corporate and any other company or body corporate with the same promoter(s); (iv) where the said person is an individual, any relative of the individual;
"Board" means the Securities and Exchange Board of India established under section 3 of the Act;
"body corporate" shall have the meaning assigned to it in or under sub-section (11) of section 2 of the Companies Act, 2013;
"bonus issue" means additional units allotted to the unit holders, as on the record date fixed for the said purpose, without any cost to the unit holder;
"certificate" means a certificate of registration granted under these regulations;
"change in control", - (i) in case of a body corporate, - (A) if its shares are listed on any recognized stock exchange, shall be construed with reference to the definition of control in terms of regulations framed under clause (h) of sub-section (2) of section 11 of the Act; (B) if its shares are not listed on any recognized stock exchange, shall be construed with reference to the definition of control as provided in sub-section (27) of section 2 of the Companies Act, 2013 (18 of 2013); (ii) in a case other than a body corporate, shall be construed as any change in its legal formation or ownership or change in controlling interest. Explanation- For the purpose of sub-clause (ii), the expression "controlling interest" means an interest, whether direct or indirect, to the extent of not less than fifty percent of voting rights or interest;
"company" means a company as defined under sub-section (20) of section 2 of the Companies Act, 2013;
"completed and revenue generating project" means an infrastructure project, which prior to the date of its acquisition by, or transfer to, the InvIT, satisfies the following conditions,– (i) the infrastructure project has achieved the commercial operations date as defined under the relevant project agreement including concession agreement, power purchase agreement or any other agreement of a similar nature entered into in relation to the operation of the project or in any agreement entered into with the lenders; (ii) the infrastructure project has received all the requisite approvals and certifications for commencing operations; and (iii) the infrastructure project has been generating revenue from operations for a period of not less than one year;
"concession agreement" means an agreement entered into by a person with a concessioning authority for the purpose of implementation of the project as provided in the agreement;
You have read the preview. Create a free account to read the full document and see every order that applied it.
Free accounts include 10 searches/day with full text access.
Source: SecMarx — Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.