TaxTMI 
TaxTMI 
Guidelines for issuance of debt securities by Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs)
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....ges (other than Commodity Exchanges) All Merchant Bankers Dear Sir/Madam, Sub: Guidelines for issuance of debt securities by Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) 1. SEBI (Real Estate Investment Trusts) Regulations, 2014 ("REIT Regulations") and SEBI (Infrastructure Investment Trusts) Regulations, 2014 ("InvIT Regulations") were amended vide notifi....
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....ITs/InvITs subject to there being no conflict with REIT Regulations and/or InvIT Regulations or circulars issued thereunder. In case of conflict, provisions of REIT Regulations and/or InvIT Regulations or circulars issued thereunder shall prevail over ILDS Regulations. 3. For the issuance of debt securities REITs/InvITs shall appoint one or more debenture trustee registered with SEBI under Securi....
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....egulations 50, 51, 54, 55, 56, 57, 58, 59 and 60 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("LODR Regulations") and any other provisions of the aforesaid regulations as may be applicable to REITs/InvITs. 5.2. In addition to Financial disclosures made by REITs and InvITs in terms of circular dated December 29, 2016 and November 29....
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....eeds of issue of debt securities from the objects stated in the offer document. 6. With reference to ILDS Regulations and LODR Regulation and circulars issued thereunder, the reference to the following terms made therein, should, for the purpose of this circular, be construed as follows, unless otherwise required:- Reference to To be construed as Articles of Association/ Memorandum of Associat....