Dear Sir\Madam
The Securities and Exchange Board of India (SEBI) has issued circular no. SEBI/HO/DDHS/DDHS-RAC-1/P/CIR/2023/177 dated November 8, 2023, regarding Procedural framework for dealing with unclaimed amounts lying with Real Estate Investment Trusts (REITs) and manner of claiming such amounts by unitholders.
In order to define the manner of handling the unclaimed amounts lying with the REITs, transfer of such amounts to the IPEF and claim thereof by the unitholders, necessary amendments were made to Regulations 4(1) and 5(3) of the SEBI (Investor Protection and Education Fund) Regulations, 2009 (IPEF Regulations).
A framework defining the procedure to be followed by an REIT for transfer of unclaimed amounts, initially to an Escrow Account and subsequently, to the IPEF and claim thereof by a unitholder, has been provided as Annex - A to this Circular.
The provisions of this Circular shall come into effect from March 1, 2024.
The aforesaid circular is attached for reference.
All Listed companies are requested to take note and comply accordingly.
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Ashok kumar Singh
DGM-Listing Compliance
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Shyam Bhagirath
Manager-Listing Compliance
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