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02-40 CORPORATE OVERVIEW 41-59 STATUTORY REPORTS 60-147 FINANCIAL STATEMENTS Report on Corporate Governance
Further, the Investment Manager has also constituted a Corporate Social Responsibility (CSR) Committee as required under the Companies Act 2013. The responsibilities of the CSR Committee inter alia include formulating and recommending to the IM Board, a corporate social responsibility policy (‘CSR Policy’); reviewing the amount of expenditure to be incurred on the activities to be undertaken by the Investment Manager and to monitor CSR policy on an ongoing basis.
POLICIES ADOPTED BY THE BOARD OF DIRECTORS OF INVESTMENT MANAGER IN RELATION TO TRUST
1. Borrowing Policy: The Investment Manager has adopted the Borrowing Policy in relation to the Trust to ensure that all funds borrowed in relation to the Trust are in compliance with the InvIT Regulations.
2. Policy on Related Party Transactions: The Investment Manager has adopted the Policy on Related Party Transactions to regulate the transactions of the Trust with its related parties based on the laws and regulations applicable to the Trust and best practices to ensure proper approval, supervision and reporting of the transactions between the Trust and its related parties.
3. Distribution Policy: The Investment Manager has adopted the Distribution Policy to ensure proper and timely distribution of Distributable Income of the Trust. The Distributable Income of the Trust is calculated in accordance with the Distribution Policy, InvIT Regulations and any circular, notification or guidelines issued thereunder. In line with the Distribution Policy, the InvIT Assets shall distribute not less than 90% of each of their net distributable cash flows to the Trust and the Trust shall distribute at least 90% of the Distributable Income to the Unitholders. Distribution shall be declared and made not less than once every quarter except for the first distribution.
4. Policy for Determining Materiality of Information for Periodic Disclosures (“Materiality Policy”) of the Trust: The Investment Manager has adopted the Materiality Policy outlining the process and procedures for determining materiality of information in relation to periodic disclosures on the Trust’s website, to the stock exchanges and to all stakeholders at large, in relation to the Trust.
5. Code of Conduct: The Investment Manager has adopted a Code of Conduct in relation to the Trust. The Trust and the Parties to the Trust shall comply with the Code at all times, in accordance with the InvIT Regulations.
6. Unpublished Price Sensitive Information (“UPSI”) Policy: The Investment Manager has adopted the UPSI Policy to ensure that the Trust complies with applicable laws, including the InvIT Regulations or such other Indian laws, regulations, rules or guidelines prohibiting insider
trading and governing disclosure of material, unpublished price sensitive information.
7. Policy on appointment of the auditor and valuer of the Trust: The Investment Manager has adopted the appointment policy, for appointment of auditor and valuer to the Trust in accordance with the InvIT Regulations.
The policies are available on the website of the Trust and can be accessed at https://www.pginvit.in/.
SEBI Complaints Redressal System (SCORES)
The investor complaints are processed in a centralised web- based complaints redress system. The salient features of this system are centralised database of all complaints, online upload of Action Taken Reports by the concerned entities and online viewing by investors of actions taken on the complaint and its current status.
PGInvIT has been registered on SCORES and the Investment Manager makes every effort to resolve all investor complaints received through SCORES or otherwise, within the statutory time limit from the receipt of the complaint.
INVESTOR GRIEVANCES
Various queries/ complaints as received from the investors of the Trust during the financial year ended March 31,2022 were redressed in a timely manner by the Investment Manager/ the Registrar and Transfer Agent of the Trust. The details of the complaints received and disposed of during the year are as under:
For Financial Year (FY) 2021-22 - Up to March 31, 2022
Particulars
Number of investor complaints pending at the beginning of the year
Number of investor complaints received during the year
Number of investor complaints disposed of during the year
Number of investor complaints pending at the end of the year
Average time taken for redressal of complaints
All SCORES complaints Complaints
including SCORES complaints
00
55
55
00
3 Working 3 Working Days Days
Apart from the above-mentioned complaints, 669 E-mails were received from the investors in FY 2021-22 (since listing i.e. May 14, 2021 and upto March 31, 2022) regarding general query/enquiry about the announcement of financial results/ announcement of distribution/ profile details/ bank account details/ distribution break-up/ TDS on distribution/ TDS certificate/ Annual Report, etc., which were responded within an average time of 2 working days.
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