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    Question

    An InvITs is a collective Investment Scheme similar to

    a mutual fund, which enables direct investment of money from individual and institutional investors in infrastructure projects to earn a small portion of the income as a return. Which of the following are not part of InvITs Guidelines?
    A “defaulter” means an entity against whom recovery proceedings are initiated under section 28A of the Securities and Exchange Board of India Act, 1992, section 23JB of the Securities Contracts (Regulation) Act, 1956 or section 19-IB of the Depositories Act, 1996. Correct Answer Incorrect Answer
    B “Informant” means an individual who voluntarily furnishes Original Information to the Board in accordance with these Guidelines and as per the specified Form A annexed hereto. Correct Answer Incorrect Answer
    C “Informant Reward Committee" means the Committee constituted as per paragraph 11 of these Guidelines. Correct Answer Incorrect Answer
    D “Investor Protection and Education Fund” means the Investor Protection and Education Fund established by the Board under sub-section (5) of section 11 of the Securities and Exchange Board of India Act, 1992. Correct Answer Incorrect Answer
    E “reserve price” means the price fixed by a Recovery Officer above which the asset shall be sold. Correct Answer Incorrect Answer

    Solution

    “reserve price” means the price fixed by a Recovery Officer below which the asset shall not be sold.

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