The Securities and Exchange Board of India (SEBI) on June 26, 2023, issued a Circular regarding the Format of Compliance Report on Governance for REITs
This circular shall come into force with effect from the financial year 2023-24 onwards, the first reporting shall be made for the quarter that ended June 30, 2023
The following has been stated namely: -
• It state that the formats of the Compliance Report on Governance shall be as under namely: -
(a) Annex -I– within twenty-one days from the end of each quarter.
(b) Annex -II–within twenty-one days from the end of the financial year on an annual basis.
(c) Annex -III–within three months from the end of the financial year on an annual basis
• It states that the manager of the REIT shall submit the compliance report on governance in the aforesaid format to the stock exchanges within the timelines as specified
• The compliance report on governance shall also be made part of the annual report of the REIT.
• The stock exchanges shall monitor the compliance of the above requirements and take appropriate action as specified by the Board from time to time.
• This circular is available on the website of the Securities and Exchange Board of India at www.sebi.gov.in under the category “Legal Circular”
[Circular No. SEBI/HO/DDHS-PoD-2/P/CIR/2023/101]
