Sebi comes out with disclosure formats of governance compliance for REITs

Capital markets regulator Sebi on Monday came out with disclosure formats for compliance reports on governance and annual secretarial for emerging investment vehicles -- REITs and InvITs.

These would come into force from the financial year 2023-24 onwards, the Securities and Exchange Board of India (Sebi) said in four separate circulars.

Under the format for compliance report on governance, Sebi said infrastructure investment trusts (InvITs) and real estate infrastructure trusts (REITs) will have to disclose the name of the investment managers, the composition of the board of directors of the investment managers as well as the composition of committees, meetings of the board of directors, along with meetings of committees, on a quarterly basis.

In addition, the regulator has issued separate formats for the financial year that need to be submitted by the investment managers of InvITs and REITs.

For the governance report, such investment managers are required to submit a quarterly ..