Amendment to Master Circular for Real Estate Investment Trusts (REITs) dated May 15, 2024 - Review of statement of investor complaints and timeline for disclosure of statement of deviation(s)
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Investor complaint review requirements revised: prior board pre approval removed; statements now to be placed quarterly for review. Amendment aligns REIT disclosure procedures with LODR: the Trustee and Board/Governing Body must ensure investor complaints are redressed and the complaint statement is to be placed quarterly before the Board and Trustee for review; statements of deviation in use of proceeds must be placed for review and submitted to stock exchanges along with financial results. The circular is effective immediately under powers of Section 11(1) of the SEBI Act and Regulation 33 of the REIT Regulations.
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.
Investor complaint review requirements revised: prior board pre approval removed; statements now to be placed quarterly for review.
Amendment aligns REIT disclosure procedures with LODR: the Trustee and Board/Governing Body must ensure investor complaints are redressed and the complaint statement is to be placed quarterly before the Board and Trustee for review; statements of deviation in use of proceeds must be placed for review and submitted to stock exchanges along with financial results. The circular is effective immediately under powers of Section 11(1) of the SEBI Act and Regulation 33 of the REIT Regulations.
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