Governance

Corporate governance

Governance-first management of public infrastructure assets.

RIIMPL operates under an independent-majority board, SEBI-prescribed disclosure obligations, IDBI Trusteeship’s independent oversight, and 19 published policies governing every material aspect of our asset management work. Our governance structure is not incidental to our mandate — it is the mandate.

Governance overview

A structured framework designed for accountable, transparent infrastructure management.

RIIMPL’s governance framework is built around the requirements of SEBI’s InvIT Regulations 2014, which impose specific obligations on the Investment Manager of a registered infrastructure investment trust. These include independent board composition, committee structures, policy publication, disclosure cadences, and investor grievance mechanisms. RIIMPL meets and, where possible, exceeds these requirements.

5
Board directors

19
Published policies

IDBI
Independent trustee

Monthly
Grievance reporting

Board & leadership

Board of directors — Raajmarg Infra Investment Managers Private Limited.

RIIMPL’s board maintains an independent director majority as required by SEBI’s InvIT Regulations. The board is responsible for oversight of the Investment Manager’s operations, governance of the Trust’s assets, and accountability to unitholders and regulators.

Note for RIIMPL team — action required
Director biographies below are placeholder. Please provide a 80–120 word biography for each director covering: professional background, prior roles, qualifications, current board positions, and relevant infrastructure/financial sector experience. Do not publish this page publicly until biographies are verified and approved.
GA
Independent Director — Chairman
Shri Giridhar Aramane
Biography to be inserted by RIIMPL

DK
Independent Director
Shri Dip Kishore Sen
Biography to be inserted by RIIMPL

RK
Managing Director & CEO
Shri NRVVMK Rajendra Kumar
Biography to be inserted by RIIMPL

HG
Nominee Director — NaBFID
Shri Himanshu Gulliani
Biography to be inserted by RIIMPL

AM
Independent Director
Smt Annie George Mathew
Biography to be inserted by RIIMPL

Board committees

Note for RIIMPL team — action required
Board committee composition has been published at: Composition of Board Committees (PDF). Please list each committee (Audit, Nomination & Remuneration, Risk Management, etc.) with its members and Chair below, for this page.

The composition of RIIMPL’s board committees is published and available for download:

Download Board Committees Composition ↗

Management team

MD
Chief Financial Officer
Shri Mridul Dubey
Biography to be inserted by RIIMPL

AK
Head — SPV
Shri Alok Kumar
Biography to be inserted by RIIMPL

NS
Technical Officer
Shri Nitin Sharma
Biography to be inserted by RIIMPL

GR
Company Secretary & Compliance Officer
Smt Gunjan Rajpal
Biography to be inserted by RIIMPL

Compliance framework

Regulatory obligations and compliance structure.

RIIMPL operates as a SEBI-registered Investment Manager under the SEBI (Infrastructure Investment Trusts) Regulations, 2014. Our compliance obligations span disclosure, reporting, board governance, investor protection, and operational conduct.

SEBI InvIT Regulations 2014

Primary regulatory framework governing RIIMPL’s operations as Investment Manager, including disclosure obligations, investment restrictions, and governance requirements.

Stock exchange compliance

Regular filings and disclosures to NSE and BSE, including material events, financial results, and unitholder communications. View all communications on the stock exchange disclosures page ↗.

Trustee oversight

IDBI Trusteeship Services Limited — independently established by IDBI Bank, LIC, and GIC — serves as the Trust’s independent trustee, overseeing compliance and protecting unitholder interests.

Note for RIIMPL team
If RIIMPL has a Compliance Certificate, Annual Compliance Report, or Internal Audit summary to disclose, please upload and link here. The compliance officer’s contact for compliance queries should also be confirmed for this section.

Compliance Officer: Smt Gunjan Rajpal — Company Secretary & Compliance Officer
Email: compliance@riimpl.in

Risk management

Structured approach to identifying and managing material risks.

RIIMPL’s Risk Management Policy governs the identification, assessment, and mitigation of material risks across the Trust’s asset portfolio, operations, and governance. The policy is reviewed by the board and its risk committee at prescribed intervals.

Note for RIIMPL team — recommended addition
A risk register summary or risk matrix (showing key risk categories: concession risk, market risk, operational risk, regulatory risk, liquidity risk) would significantly strengthen this section for lenders and institutional investors. Please confirm whether this can be published, and in what form.
Concession risk

Monitoring SPV performance against concession agreement obligations, traffic benchmarks, and NHAI reporting requirements.

Market risk

Interest rate, inflation, and traffic volume exposure managed within the Investment Manager’s borrowing and acquisition policy frameworks.

Regulatory risk

Ongoing monitoring of SEBI, MoRTH, and exchange regulatory changes affecting InvIT structure, disclosure, and operations.

Ethics & transparency

Code of conduct, insider trading policy, and whistleblower mechanism.

RIIMPL maintains a comprehensive ethics framework applicable to all board directors, senior management, and personnel — covering conduct standards, insider trading prohibitions, conflict of interest management, and the Vigil Mechanism for reporting concerns.

Investor grievance

Investor grievance redressal mechanism.

Investor Grievance Officer
Name: Smt Gunjan Rajpal, Company Secretary & Compliance Officer
Organisation: Raajmarg Infra Investment Trust
Address: G-5 & 6, National Highways Authority of India, Sector 10 Dwarka, New Delhi 110075
Email: compliance@riimpl.in
Telephone: 011-25074100, Extn. 1524

Investor grievance reports are published monthly. The most recent reports are available below and in the Investor Relations section.

For Online Dispute Resolution (ODR) information:

Online Dispute Resolution (ODR) ↗