Sebi amends norms for Reits, in­vits

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In or­der to make REITS and In­vits more at­trac­tive, mar­kets reg­u­la­tor Se­bi­will pro­vide a mech­a­nism for res­o­lu­tion of dis­putes with their share­hold­ers and part­ners in the hold­ing com­pany.sebi has also amended REITS (Real Es­tate In­vest­ment Trusts) and In­vits (In­fra­struc­ture In­vest­ment Trusts) reg­u­la­tions in or­der to fa­cil­i­tate the growth of such trusts. A sep­a­rate no­ti­fi­ca­tion said that sshare­hold­ers’ agree­ment or part­ner­ship agree­ment shall pro­vide for an ap­pro­pri­ate mech­a­nism for res­o­lu­tion of dis­putes be­tween the INVIT and the other share­hold­ers or part­ners in the holdco and/or the SPV (spe­cial pur­pose ve­hi­cle). The pro­vi­sions of these reg­u­la­tions will pre­vail in case of in­con­sis­ten­cies be­tween such agree­ment and the obli­ga­tions cast upon an INVIT and REIT.WITH re­gard to INVIT, the reg­u­la­tor said the trust will have to file the fi­nal place­ment me­moran­dum with Sebi within 10 work­ing days from the date of list­ing of the units is­sued therein.

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