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of <h1>SEBI Circular Eases Restrictions for REITs on Employee Benefit Trust Units; Updates Reporting and Distribution Timelines.</h1> The circular issued by SEBI provides relaxations for Real Estate Investment Trusts (REITs) regarding units allotted to an employee benefit trust under a unit-based employee benefit scheme. It exempts these units from certain lock-in and allotment restrictions. The circular also mandates the Indian REITs Association, in consultation with SEBI, to specify and update the format for quarterly reports and compliance certificates required from REIT managers. Additionally, it aligns the timelines for distributions by REITs with recent regulatory amendments, ensuring unclaimed amounts are transferred to an Unpaid Distribution Account. The circular is effective immediately.
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