TaxTMI 
TaxTMI 
Amendments to guidelines for preferential issue and institutional placement of units by a listed REIT
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.... All Depositories All Merchant Bankers Madam/Sir Sub: Amendments to guidelines for preferential issue and institutional placement of units by a listed REIT 1. SEBI issued circular SEBI/HO/DDHS/DDHS/CIR/P/2019/142 dated November 27, 2019 providing guidelines for preferential issue and institutional placement of units by listed REITs ("Guidelines"). The guidelines were subsequently re....
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....not repaid within such time after the issuer becomes liable to repay it, the REIT, the manager of the REIT and its director or partner who is an officer in default shall, on and from the expiry of the fourth working day, be jointly and severally liable to repay that money with interest at the rate of fifteen percent per annum. II. Sub-paragraph (A) of paragraph 2 of Annexure-I of the SEBI....
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....e prices of the related units quoted on a recognised stock exchange preceding the relevant date. Explanation: a) "Relevant date" for the purpose of clauses related to preferential issue of units shall be the date thirty days prior to the date on which the meeting of unitholders is held to consider the preferential issue. Where the relevant date falls on a weekend or a holiday, th....
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....units of the issuer is not identical throughout such period, the weighted average number of total units of such class of the issuer shall represent the total number of units." III. Clause 4.1 of paragraph 4 of the SEBI circular dated November 27, 2019 (as amended), is modified as under and the explanation stands deleted: "4.1 Preferential issue of units shall not be made to any p....