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REITs May Conduct Annual Meetings Through Video Conferencing Till Dec 2021

The meetings through video conferencing or through OAVM need to be conducted in accordance with the procedure specified by the watchdog.

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InvITs and REITs are also required to upload the transcript on their respective websites as soon as possible after the conclusion of the meetings.

Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts(REITs) can conduct annual meetings of their unitholders through video conferencing and other audio-visual means till December 31, according to Sebi.

For annual meeting of unitholders to be conducted during calendar year 2021, the facility of Video Conferencing (VC) and Other Audio-Visual Means (OAVM) will be available till December 31, 2021, Sebi said in a circular on Friday.

For meetings other than the annual meeting of unitholders, the facility can be used up to June 30, 2021.

The meetings through video conferencing or through OAVM need to be conducted in accordance with the procedure specified by the watchdog.

Among other requirements, a recorded transcript of the meetings held through VC or OAVM should be maintained in the safe custody of the investment manager of InvIT or manager of the REIT.

InvITs and REITs are also required to upload the transcript on their respective websites as soon as possible after the conclusion of the meetings.

Source: PTI

(The story has been published from a wire feed without modifications to the text. Only the heading has been changed)

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