Illustrative Roles and Responsibilities of Trustees

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..... its information to the trustees including: a) List of unitholders on quarterly basis; b) Shareholding of InvIT in SPV, HoldCo and Investment entity and changes if any on a quarterly basis; c) Confirmation on compliance with leverage limit on a quarterly basis and at the time of acquisition and disposal of assets; d) Trustee may request for due diligence report or such other information in respect of any acquisition; e) Net worth compliance certificate from investment manager on a half yearly basis; f) Net worth compliance certificate of sponsor and investment manager from practicing Chartered Accountant on an annual basis; and g) Confirmation on the details of unclaimed distributions till the previous quarter. iii. The trust .....

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..... ociates or dealt with any of the associates of the investment manager in any manner detrimental to interest of the unitholders; ii. ensure that there is no conflict of interest between the manner of deployment of its net worth by the investment manager and the interest of the unitholders; iii. ensure that the investment manager manages the InvIT independently of other activities and have taken adequate steps to ensure that the interest of investors of the InvIT are not being compromised with other activities of the InvIT or the investment manager; and iv. abide by the Code of Conduct as specified in the Schedule VI of these regulations. 7. Auditing and Financial Review: The trustee shall: i. be accountable for, and be the custodi .....

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..... etings for appropriate action; d) review the activity of the InvIT on a quarterly basis and place the report of the same before their Board of directors; e) consider the reports of the auditor and compliance reports of investment manager at their board meetings for appropriate action; f) maintain records and minutes of the Board of directors' meetings of the trustee for the review of information pertaining to the InvIT; g) prescribe and adhere to a code of ethics by the trustee, investment manager and its personnel; and h) communicate in writing to the investment manager of the deficiencies and check on necessary measures taken by investment manager for the rectification of deficiencies. ii. The trustee shall also exercise due .....

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