Regulation 26K of SEBI (Infrastructure Investment Trusts) Regulations, 2014 (“InvIT Regulations”) requires as under: (1) The investment manager shall submit a quarterly compliance report on governance in the format as may be specified by the Board, to the recognized stock exchange(s) within twenty-one days from the end of each quarter. (2) The report referred in sub-regulation (1) of this regulation shall be signed either by the compliance officer or the chief executive officer of the investment manager.
SEBI has now provided formats for these which are as follows:
- Annex – I – within twenty one days from the end of each quarter;
- Annex – II – within twenty one days from the end of financial year on an annual basis;
- Annex – III – within three months from the end of financial year on an annual basis;
SEBI has stated that investment manager of the InvIT shall submit the compliance report on governance in the aforesaid format to the stock exchanges. The compliance report on governance shall also be made part of annual report of the InvIT.
SEBI has stated that first reporting shall be made for the quarter ended June 30, 2023.
Lot of actionable are arising out of this new format of compliance report. Compliance Officer of InvITs need to gear up for this.
CLICK HERE COPY OF CIRCULAR
Disclaimer :This article provides general information existing at the time of preparation and we take no responsibility to update it with the subsequent changes in the law. The article is intended as a news update and Affluence Advisory neither assumes nor accepts any responsibility for any loss arising to any person acting or refraining from acting as a result of any material contained in this article. It is recommended that professional advice be taken based on specific facts and circumstances. This article does not substitute the need to refer to the original pronouncement
