The Securities and Exchange Board of India (“SEBI”) had vide its earlier circular dated February 26, 2021 (“Earlier Circular”) permitted Real Estate Investment Trusts (“REITs”) and Infrastructure Investment Trusts (“InvITs”) to conduct annual meetings of unitholders through Video Conferencing (“VC”)/ Other Audio-Visual means (“OAVM”) till December 31, 2021 and other meetings of unitholders through VC/ OAVM till June30, 2021.
With regard to the Ministry of Corporate Affairs vide its circular dated December 8, 2021 extending the facility of holding AGMs and EGMs through VC/ OAVM till June 30, 2022 and further to the representations which were received by SEBI from REITs/ InvITs to extend the facility to conduct annual meetings and other meetings of unitholders through VC/OAVM, SEBI has vide its circular dated December 22, 2021 (“Circular”) 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/ OAVM till June 30, 2022.
Please find a copy of the Earlier Circular here and the Circular here.
This update has been contributed by Nidhi Arya (Partner) and Swaraj Narula (Senior Associate).
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