Sebi Relaxes Compliance Deadline For REITs, InvITs

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Sebi Relaxes Compliance Deadline For REITs, InvITs
PTI - 01 July 2020

New Delhi, July 1: Market regulator Securities and Exchange Board of India (Sebi) on Wednesday eased the compliance deadline for emerging investment vehicles – REITs and InVITs, by a month in the wake of coronavirus pandemic.

In a circular, Sebi said it has extended the regulatory due date for filing and compliance for Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InVITs) for the financial year ended March 31, by one month over and above the timeline given by the regulator in March.

Earlier in March, the regulator had granted additional one month over and above the timelines prescribed under REITs and InVITs Regulations for compliance.

Under the norms, a manager is required to submit an annual report, among other documents, to all unit holders of the REIT or InvIT with respect to activities of such investment vehicles, within three months from the end of the financial year.

The annual report includes manager's brief report of activities of the REIT or InvIT and summary of the audited stand alone and consolidated financial statements; management discussion and analysis by the directors of the manager on activities of such trusts during the year, forecasts and future course of action, details of the fund raising, risk factors and any other material change.

Sebi had first notified REITs and InvIT regulations in 2014, allowing setting up and listing of such trusts which are popular in some advanced markets.

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