Photo of Kranti Mohan

Partner in the Capital Markets Practice at the Mumbai office of Cyril Amarchand Mangaldas. Kranti has advised clients on a number of capital markets transactions, including IPOs, QIPs, private placements, rights offerings and overseas listings. He has also assisted with the work related to the firm’s representation on various regulatory committees and assistance to industry chambers and market intermediaries on securities laws related matters.

He is currently also focussing on listing of Infrastructure Investment Trusts and Real Estate Investment Trusts in India. He can be reached at

mplications of the Finance Bill, 2020, on INVITs, REITs and its Unitholders

The Finance Minister, Nirmala Sitharaman, presented the Union Budget 2020-2021 on February 1, 2020 and consequently, introduced the Finance Bill, 2020 (“Bill”) in the Lok Sabha. The Bill comprises the financial proposals, including taxation related proposals, to amend the provisions of the Income-tax Act, 1961 (“Income-tax Act”) for the financial year 2021.

The Income-tax Act comprised provisions in relation to the taxability of, and exemptions available to, infrastructure investment trusts (“InvITs”) and real estate investment trusts (“REITs”, together with “InvITs”, referred to as “business trusts”) registered with the Securities and Exchange Board of India under the Securities Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014 (“InvIT Regulations”) or the Securities Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014 (“REIT Regulations”), respectively.
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