The Securities and Exchange Board of India (SEBI) on May 09, 2024, issued the Consultation Paper on measures towards Ease of Doing Business for REITs and InvITs.
The following has been stated namely: -
• The consultation paper has been issued to simplify, ease, and reduce the cost of compliance for participants in the financial sector through a consultative approach.
• The following has been issued for comments namely: -
o Part - A: Proposals for both REITs and InvITs: -
(a) Revision of timelines for distribution to five working days from declaration.
(b) Allowing unitholders meeting with shorter notice.
(c) Disclosure and Review of Statement of Investor Complaints.
(d) Disclosure of Statement of Deviation(s) Alongside Financial Results.
(e) Clarification on voting thresholds in terms of percentage, and providing electronic meeting and e-voting option to unitholders.
(f) Allowing Maintenance of Records in electronic form along with backup and Disaster Recovery Norms for such Records.
o Part – B: Proposals for InvITs only: -
(a) Reduction of Trading lot for Privately Placed InvITs
(b) Aligning provision related to change in sponsor for InvIT regulations with REIT Regulations.
Comments on the Consultation paper (CP) may be sent by May 30, 2024, the link to provide the suggestion is given here.
