TMI BlogPermissible investmentsX X X X Extracts X X X X X X X X Extracts X X X X ..... al, whether by way of pre-payment or otherwise, with respect to the underlying assets of the scheme, shall be invested as specified in this sub-regulation: Provided further that if the investments specified in this sub-regulation are not available, such funds may be invested in bonds of Public Financial Institutions and Infrastructure Finance Companies.] (2) Subject to sub-regulation (1), every infrastructure debt fund scheme may invest the balance amount in equity shares, convertibles including mezzanine financing instruments of companies engaged in infrastructure, infrastructure development projects, whether listed on a recognized stock exchange in India or not; or money market instruments and bank deposits. (3) The investment re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... projects or special purpose vehicles, which are rated below investment grade or are unrated, shall not exceed 30% of the net assets of the scheme: Provided that the overall investment limit may increase up to 50% of the net assets of the scheme with the prior approval of the trustees and the board of the asset management company.] (6) No infrastructure debt fund scheme shall invest in (i) Any unlisted security of the sponsor or its associate or group company; (ii) Any listed security issued by way of preferential allotment by the sponsor or its associate or group company; (iii) Any listed security of the sponsor or its associate or group company or bank loan in respect of completed and revenue generating projects of infras ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tual Funds) (Amendment) Regulations, 2013, w.e.f. 16-4-2013. Prior to this, it read as, Provided that such investment limit may be extended upto 50% of the net assets of the scheme with the prior approval of the board of trustees and the board of asset management company. 6 Inserted by the SEBI (Mutual Funds) (Amendment) Regulations, 2013, w.e.f. 16-4-2013. 7 Substituted by the SEBI (Mutual Funds) (Amendment) Regulations, 2013, w.e.f. 16-4-2013. Prior to substitution, clause (iv) read as follows: Any asset or securities owned by the sponsor or asset management company or its associates, in excess of 20% of the net assets of the scheme not below investment grade, subject to approval of trustees and full disclosures to investor ..... X X X X Extracts X X X X X X X X Extracts X X X X
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