Investor Charter Real Estate Investment Trusts (REITs)
Summary
This circular introduces an Investor Charter for Real Estate Investment Trusts (REITs) to enhance financial consumer protection and literacy. It mandates the Indian REIT Association and all REITs to disseminate the charter on their websites, mobile applications, and physical offices. Additionally, registered REITs are required to disclose grievance redressal data monthly in a specified format. This section details the specific timelines for disclosing various reports, including annual, half-yearly, and valuation reports. It outlines the grievance redressal mechanism available to investors through REITs, SEBI's SCORES portal, and other regulatory bodies. Additionally, it provides a comprehensive list of do's and don'ts for investors alongside their fundamental rights regarding information and grievance resolution. This section outlines the right of investors to escalate unresolved complaints to SEBI via the SCORES portal. It details the specific responsibilities of investors, including due diligence and information updates, as well as the duties of the Indian REITs Association in grievance redressal. Finally, it provides standardized formats for REITs to disclose investor complaint
Text
it has been decided to introduce the investor charter for REITs.
IRA is advised to disseminate the Investor Charter on their website and mobile applications (if any), and display the Investor Charter at prominent places in the office. Further, REITs are advised to bring the Investor Charter to the notice of their investors by way of disseminating the Investor Charter on their respective websites and mobile applications (if any), making them available at prominent places in the office, provide a copy of Investor Charter through e-mails/letters etc.
IRA and REITs are also advised to review the Investor Charter from time to time and update the same in light of any changes made in the SEBI (Real Estate Investment Trusts) Regulations, 2014 and/or circulars issued thereunder.
all the registered REITs shall disclose on their respective websites, the data on complaints received against them or against issues dealt by them and redressal thereof, on each of the aforesaid categories separately as well as collectively, latest by 7th of succeeding month, as per the format enclosed at Annexure-B to this circular.
The provisions of this circular shall come into force with immediate effect.
This circular is issued in exercise of powers conferred under Section 11(1) of Chapter IV of the Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities markets and shall come into effect from the date of this circular.
The recognized Stock Exchanges are advised to disseminate the contents of this Circular on their website.
Within 3 months from the end of financial year
Within 45 days from the end of half year ending on Sep 30th
To be disclosed to unitholders within 15 days from receipt of valuation report.
Within 60 days from the end of the financial year
Within 45 days from the end of quarter / half year
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Source: SecMarx — Investor Charter Real Estate Investment Trusts (REITs). Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.