SEBI extends compliance relaxations for REITs, InvITs

Mumbai, July 1 (SocialNews.XYZ) The Securities and Exchange Board of India (SEBI) on Wednesday extended the deadline for regulatory filing and compliances for investment vehicles - REITs and InvITs -- for the period ended March 31, 2020 by another month over and above the extension given in March.

The temporary relaxations come in the wake of the coronavirus pandemic.

In March, the regulator had announced the extension in the due date for regulatory filings and compliances for Real Estate Investment Trusts (REITS) and Infrastructure Investment Trusts (InvIT) for the period ending March 31, 2020 was extended by one month over and above the timelines prescribed under the regulations.

"It has been decided to further extend the due date for regulatory filings and compliances for REIT and InvIT for the period ending March 31, 2020 by a month over and above the extended timelines specified vide the aforementioned circular," a SEBI circular said.

Sonam Chandwani, Managing Partner at KS Legal & Associates, noted that the relaxations in compliance rules in the wake of the pandemic are much required, keeping in mind the worsening situation.

"The trusts are yet not in a position to comply with the regulatory requirements with only staggered operations for businesses currently. With increased encumbrances on entities, the portfolio managers are in a threatened position with the sword of the regulatory filings hanging overhead," she said.

The relaxation shall provide respite in terms of compliance of norms as well as provide more room to the trusts to reach a settled position for filings in the extended time period, Chandwani added.

Source: IANS