Relaxation from compliance to REITs and InvITs due to the CoVID-19 virus pandemic

Last updated: 26 March 2020

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In response to the COVID-19 pandemic, SEBI has granted temporary relaxations for Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs). The due date for regulatory filings and compliances for the period ending March 31, 2020, has been extended by one month. This measure aims to ease compliance burdens during the ongoing health crisis.

CIRCULAR
SEBI/HO/DDHS/CIR/P/2020/42
March 23, 2020

To,

All Real Estate Investment Trusts (REITs)
All InfrastructureInvestment Trusts (InvITs)
All Parties to REITs and InvITs
All Recognized Stock Exchanges
All Depositories

Madam / Sir,
Sub: Relaxation from compliance toREITsand InvITsdue to the CoVID -19 virus pandemic

1.Due to the developments arising due to the spread of the COVID 19virus, a need for temporary relaxations in compliance requirements for REITsand InvITsis warranted. Accordingly, it has been decided to extend the due date for regulatory filings and compliancesfor REIT and InvIT for the period ending March 31, 2020 by one month over and above the timelines, prescribed under SEBI (Infrastructure Investment Trusts) Regulations, 2014(InvIT Regulations)and SEBI (Real estate Investment Trusts) Regulations, 2014(REIT Regulations) and circulars issued thereunder.

2.This Circular shall come into force with immediate effect. The Stock Exchanges are advised to bring the provisions ofthis circular to the notice ofall REITsand InvITsand also disseminate on their websites.

3.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 33of InvIT Regulations and Regulation 33of REIT Regulations.4.This Circular is available on SEBI website at www.sebi.gov.inunder the categories “Legal Framework” and under the drop down “Circulars”.

Yours faithfully,
Richa G. Agarwal
Deputy General Manager
Department of Debt and Hybrid Securities
Email id -richag@sebi.gov.in
Tel No.022-2644 9596

FAQ :

REITs and InvITs are receiving relaxations due to the developments arising from the spread of the COVID-19 virus.

The due date for regulatory filings and compliances for REITs and InvITs for the period ending March 31, 2020, has been extended by one month.

This circular provides relaxations under the SEBI (Infrastructure Investment Trusts) Regulations, 2014 (InvIT Regulations) and SEBI (Real Estate Investment Trusts) Regulations, 2014 (REIT Regulations).

This circular comes into force with immediate effect.

Stock Exchanges are advised to bring the provisions of this circular to the notice of all REITs and InvITs and disseminate it on their websites.

Notification No : SEBI/HO/DDHS/CIR/P/2020/42

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