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August 2026
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SEBIInvITs: SEBI allows add-back of debt-funded major maintenance expense of road projects in Net Distributable Cash Flows, with unitholder approval
Major maintenance add-backRule changeSEBI has changed the framework for computing Net Distributable Cash Flows of InvITs. Payments towards major maintenance expense of road projects, to the extent funded by external borrowing, can be added back at the HoldCo/SPV level and at the Trust level. The add-back needs unitholder approval with at least 60% of votes cast, a statutory auditor’s certificate and specified disclosures.
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