SEBI, to make Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) more attractive, has amended regulations to facilitate the growth of such trusts.

Sebi in a separate notification posted on its website stated, “Shareholders’ 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).”

In respect with InvIT Sebi 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.

Further for REIT Sebi stated, “The manager, in consultation with the trustee, will appoint at least such number of nominees on the board of directors or the governing board of such SPVs, as applicable, which are in proportion to the shareholding or holding interest of the REIT in the SPV.”

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