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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....016 dated December 29, 2016 specified provisions for continuous disclosures and compliances by REITs. The said circular was consolidated as Chapter 4 of the Master Circular for Real Estate Investment Trusts (REITs) dated May 15, 2024 ("Master Circular"). 2. To improve ease of doing business related to activities of InvITs and REITs, a working group was constituted by SEBI to examine and give recommendations on ease of doing business measures ("Working Group"). The Working group, inter-alia, gave recommendations on the provisions related to the review of statement of investor complaints and timeline for disclosure of statement of deviation(s). Review of statement of investor complaints 3. With regard to the provisions related to the....

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....nd the Board of Directors/Governing Body of the Manager shall ensure that all investor complaints are redressed by the Manager in timely manner. Further, the statement as specified in Para 4.16.3. above shall be placed, on a quarterly basis, before the Board of Directors/Governing Body of the Manager and the Trustee for review." Timeline for disclosure of statement of deviation(s) 6. With regard to the provisions related to the timeline for disclosure of statement of deviation(s) in the use of proceeds from the stated objects, paragraph 4.17.2 of the Master Circular reads as under: "The statement(s) specified above, shall be continued to be given till such time the issue proceeds have been fully utilised or the purpose for wh....