Investor Charter Infrastructure Investment Trusts (InvITs)
Summary
This section of the circular mandates the introduction and dissemination of an Investor Charter for Infrastructure Investment Trusts (InvITs) to enhance consumer protection. It requires the Bharat InvIT Association and InvITs to publish the charter on their websites, mobile applications, and in physical offices while ensuring periodic updates. Additionally, registered InvITs are obligated to disclose grievance redressal data monthly on their websites using a specified format. This section details the timelines for resolving investor grievances through the RTA and SEBI's SCORES platform. It establishes specific disclosure frequencies and time limits for various reports, including financial information, valuation reports, and compliance statements. The text further mandates prompt disclosures regarding asset changes, unitholding patterns, and credit rating updates. This section outlines the grievance redressal mechanisms available to investors, including internal processes and SEBI's SCORES portal. It details specific do's and don'ts for investors to ensure safe and informed participation in Infrastructure Investment Trusts. Furthermore, it enumerates the statutory rights of investor
Text
SEBI issued previous investor charters and complaint disclosure formats via Circulars dated November 26, 2021, and December 16, 2021.
To enhance financial consumer protection, inclusion, and literacy, considering ODR platform and SCORES 2.0 developments, an investor charter for InvITs is introduced.
Based on HySAC consultation, the investor charter for InvITs is placed at Annexure-A.
BIA and InvITs must disseminate the Investor Charter on websites/mobile apps and display it prominently; they must also review and update it periodically against SEBI regulations.
Registered InvITs shall disclose complaint data and redressal status by the 7th of the succeeding month on their websites per Annexure-B format.
The provisions of this circular come into force with immediate effect.
Issued under Section 11(1) of Chapter IV of the SEBI Act, 1992 to protect investors and regulate securities markets.
Recognized Stock Exchanges are advised to disseminate the contents of this Circular on their website.
To develop the Indian InvIT Industry and provide transparent, efficient investment opportunities by ensuring fair regulatory mechanisms and protecting unitholder interests.
To support a transparent, ethical, globally competitive InvIT industry upholding high standards of corporate governance and transparency.
To enact and enforce rules promoting high professional and ethical standards in all areas of InvIT industry operation.
To work with the InvIT industry to recommend good business practices and a code of conduct in the best interests of investors.
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Source: SecMarx — Investor Charter Infrastructure Investment Trusts (InvITs). Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.