SEBI extends time for conducting EGMs of unit holders of InvITs and REITs through Video Conferencing or Other Audio-Visual Means
Securities and Exchange Board of India
Dated: October 08, 2020
All Infrastructure Investment Trusts (InvITs)
All Real Estate Investment Trusts (“REITs”)
All Parties to InvITs and REITs
All Recognized Stock Exchanges
Subject: Extension of facility for conducting extraordinary meeting(s) of unit holders of InvITs and REITs through Video Conferencing or Other Audio-Visual Means (VC/OAVM)
1. Kindly refer to SEBI circular no. SEBI/HO/DDHS/DDHS/CIR/P/2020/102 dated June 22, 2020, whereby InvITs/ REITs were permitted to conduct meetings of unitholders through VC or OAVM subject to compliance with the procedure specified therein.
2. Vide clause 6 of the aforesaid circular, the facility of VC or OAVM was made available for annual meeting of unitholders in terms of Regulation 22(3)(a) of InvIT Regulations and Regulation 22(3) of REIT Regulations, to be conducted during calendar year 2020. For meetings, other than annual meeting of unitholders, the facility for conducting meeting of unitholders through VC or OAVM was provided upto September 30, 2020.
3. In this respect, representations have been received for extending the facility of VC or OAVM for conducting extraordinary meetings of unitholders for some more time due to the pandemic.
4. In this regard, it has now been decided to extend the facility of VC or OAVM for conducting extraordinary meetings(s) of unitholders by InvITs/ REITs upto December 31, 2020, subject to compliance with the procedure prescribed in Annexure-I of SEBI circular no. SEBI/HO/DDHS/DDHS/CIR/P/2020/102 dated June 22, 2020.
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5. The Circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 read with Regulation 33 of InvIT Regulations and Regulation 33 of REIT Regulations.
Sabir Vasant Sawant
Deputy General Manager
Department of Debt and Hybrid Securities
Email id: email@example.com