SEBI Mandates InvITs & REITs to Hold Securities of Holding Cos. and SPVs in Demat Form Only
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- By Chetan Kulasri
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- Last Updated on 24 May, 2023
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Circular No. SEBI/HO/DDHS-PoD-2/P/CIR/2023/75 &76 Dated 22-05-2023
With a view to promote dematerialization of securities, encouraging ease of doing business, improve transparency in the dealings of securities of Hold Cos/ SPVs, the SEBI has mandated that InvITs & REITs shall hold the securities of Hold Cos and SPVs in dematerialized form only.
The Investment manager of the InvIT and Manager of the REIT shall ensure the dematerialisation of the securities of the SPVs/ Hold Cos.
Further, for existing securities holdings by InvITs & REITs in Hold Cos and SPVs in physical form, the Investment manager of the InvIT & REITs are directed to dematerialize the same on or before June 30, 2023. This circular shall come into force with immediate effect.
Click Here To Read The Full Circular
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