Encumbrance on units of Real Estate Investment Trusts (REITs)

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.... Estate Investment Trusts) Regulations, 2014 ("REIT Regulations") inter alia provides for mandatory holding of units of REIT by sponsor(s) and sponsor group(s) of REIT. 2. Regulation 23 of the REIT Regulations, 2014 inter alia provides that the manager shall disclose to the designated stock exchanges, unit holders and the Board such information and in the manner as may be specified by the Board......

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....g conditions are satisfied: a) the person(s) invoking the encumbrance (whether directly or through any trustee or agent acting on its behalf) shall get itself or its nominee to become re-designated sponsor upon compliance with the terms and conditions for re-designation of sponsor as specified under REIT Regulations: Provided that this condition shall not be applicable in case the person invokin....

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....close such information to every stock exchange where units of the REIT are listed. 7. The format for disclosure of unit holding pattern as provided under Annexure B of SEBI circular No. IMD/DF/146/2016 dated December 29, 2016 stands modified to include the following details pertaining to sponsor(s) and sponsor group: Category Category of Unit Holder No. of Unit Held As a % of Total Outstan....