Simplified compliance norms for REITs related to investor grievances and fund utilization reporting.

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Full Text of the Document

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....This circular amends the Master Circular for Real Estate Investment Trusts (REITs) to promote ease of doing business. Regarding investor complaints, the requirement for prior review by the Manager's Board before submission to stock exchanges is removed, aligning with LODR Regulations. Instead, the statement shall be placed quarterly before the Board and Trustee for review. For deviations in use of proceeds, the statement shall be submitted along with financial results, aligning with LODR Regulations, instead of within 21 days of each quarter. The circular is issued under SEBI Act and REIT Regulations, applicable immediately.....