The Securities and Exchange Board of India (“SEBI”) vide its circular dated June 22, 2020 (“June Circular”) read with the circular dated October 08, 2020 (“October Circular”) had permitted real estate investment trusts (“REITs”)/ infrastructure investment trusts (“InvITs”) to conduct annual meetings and other meetings of unitholders through video conferencing (“VC”) or other audio-visual means (“OAVM”) up to December 31, 2020.
Subsequently, SEBI vide its circular dated December 22, 2021 had extended the aforesaid VC/ OAVM facility for conducting annual and other meetings till June 30, 2022.
With regard to the above and certain representations received from stakeholders of REITs/ InvITs to further extend the aforesaid facility, SEBI vide its circular dated June 3, 2022 (“Circular”) has extended the facility to conduct annual meetings of unitholders in terms of Regulation 22(3) of SEBI (REIT) Regulations, 2014 and Regulation 22(3)(a) of SEBI (InvIT) Regulations, 2014, and meetings other than annual meeting, through VC or OAVM till December 31, 2022.
Please find a copy of the June Circular here, the October Circular here and the Circular here.
This update has been contributed by Swaraj Narula (Senior Assoicate).
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