Capital markets regulator Sebi on Thursday extended the timeline till March 15, for submission of public comments on a proposal pertaining to higher responsibility for sponsors of investment vehicles — REITs and InvITs.
The regulator had put in place a consultation paper on holding of sponsors in Real Estate Investment Trust (REITs) and Infrastructure Investment Trust (InvITs) on February 23 and sought public comments on the same by March 8.
“It has been decided to extend the timeline for submission of comments to March 15, 2023,” the Securities and Exchange Board of India (Sebi) said in a public notice.
In its consultation paper, the regulator proposed changes to rules governing REITs and InvITs whereby sponsors will be required to own a certain percentage of units in these investment vehicles.
The changes were proposed keeping in mind the interest of unit holders and the structural vulnerabilities associated with absence of a sponsor for REITs and InvITs.
The watchdog suggested
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