Corporate News
Citius TransNet Investment Trust has issued a notice to unitholders seeking approval to include major maintenance expenses when calculating financial performance, a change enabled by the National Company Law Tribunal’s (NCLT) recent circular. To fund approximately $110 million USD in estimated maintenance expenses over FY27-FY30, the InvIT plans to borrow up to INR 920 crores. While distributions to unitholders may initially be higher due to the change, future distributions could be impacted as the debt is repaid. The Investment Manager recommends unitholder approval, which requires a special majority of at least 60% of votes cast. Citius will disclose further details regarding the debt in future financial reports and has an auditor certifying the legitimacy of expenses.