IndInfravit Trust - Outcome of Board Meeting

25 Aug 2022 , 12:00 AM

IndInfravit Trust has informed the Exchange about Board Meeting held on 24-Aug-2022 to consider Other business mattersSubject to, the prior approval of unitholders, approved and considered the following matters:1. the proposed revision in the fees payable under the existing investment management agreement entered into with IM, pursuant to the proposed third amendment to such investment management agreement.2. the proposed amendments to the existing project implementation and management agreements entered into with Sadbhav Pima Private Limited in respect of 8 SPVs of the Trust, including the fee structure thereunder.3. commencement of the process of termination of the existing project implementation and management agreements entered into with L&T Infrastructure Development Projects Limited in respect of 5 SPVs of the Trust.Consequently, the appointment of Sadbhav Pima Private Limited as replacement project manager for such 5 SPVs.4. availing of borrowings upto an amount not exceeding INR 14,250 crores, and matters related thereto, subject to the condition that the aggregate consolidated borrowings and deferred payments of Trust and its SPVs, net of cash and cash equivalents, do not exceed 70% of the value of the Trusts InvIT assets.