Investor disclosure requirements govern InvIT offers; public advertisements must equally present positive highlights and risk factors. Regulation 15 requires offer documents and placement memoranda for InvITs to contain material, true, correct and adequate disclosures, forbids misleading statements and guaranteed returns, and mandates inclusion of information specified in Schedule III (placement memorandum to the extent applicable). Advertisements are prohibited for private placements; advertisements for public offers must not be misleading, must not include extraneous material, must present risk factors with equal prominence alongside positive highlights, and must follow Board circulars or guidelines.
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Provisions expressly mentioned in the judgment/order text.
Investor disclosure requirements govern InvIT offers; public advertisements must equally present positive highlights and risk factors.
Regulation 15 requires offer documents and placement memoranda for InvITs to contain material, true, correct and adequate disclosures, forbids misleading statements and guaranteed returns, and mandates inclusion of information specified in Schedule III (placement memorandum to the extent applicable). Advertisements are prohibited for private placements; advertisements for public offers must not be misleading, must not include extraneous material, must present risk factors with equal prominence alongside positive highlights, and must follow Board circulars or guidelines.
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