Debt securities issuance by REITs/InvITs permitted with tailored ILDS compliance, trustee appointment, security and enhanced disclosures. SEBI allows REITs and InvITs to issue debt securities under a modified application of the ILDS Regulations, excluding specified ILDS provisions and Company Act filing requirements unless expressly stated. Issuers must appoint SEBI registered debenture trustees (excluding the trust's own trustee), secure any secured issuance by an adequate charge on trust/holdco/SPV assets, and comply with enhanced continuous disclosure obligations including specified financial line items, addressing modified audit opinions affecting repayment capacity, and half yearly statements on use of proceeds. The circular maps company terms to trust terminology and rests on SEBI's regulatory powers under the REIT/InvIT frameworks.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Debt securities issuance by REITs/InvITs permitted with tailored ILDS compliance, trustee appointment, security and enhanced disclosures.
SEBI allows REITs and InvITs to issue debt securities under a modified application of the ILDS Regulations, excluding specified ILDS provisions and Company Act filing requirements unless expressly stated. Issuers must appoint SEBI registered debenture trustees (excluding the trust's own trustee), secure any secured issuance by an adequate charge on trust/holdco/SPV assets, and comply with enhanced continuous disclosure obligations including specified financial line items, addressing modified audit opinions affecting repayment capacity, and half yearly statements on use of proceeds. The circular maps company terms to trust terminology and rests on SEBI's regulatory powers under the REIT/InvIT frameworks.
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