(1) The manager shall ensure that the disclosures in the offer document are in accordance with the Schedule III to these regulations and any circulars or guidelines issued by the Board in this regard.
(2) The manager shall submit an annual report to all unit holders of the REIT with respect to activities of the REIT, within three months from the end of the financial year.
(3) The manager shall submit a half-yearly report to all unit holders of the REIT with respect to activities of the REIT within forty five days from the end of the half year ending on September 30th.
(4) Such annual and half yearly reports shall contain disclosures as specified under Schedule IV to these regulations.
(5) The manager shall disclose to the designated stock exchanges any information having bearing on the operation or performance of the REIT as well as price sensitive information which includes but is not restricted to the following,-
(a) acquisition or disposal of any properties, value of which exceeds five per cent. of value of the REIT assets;
(b) additional borrowing, at level of 208[holdco or] SPV or the REIT, resulting in such borrowing exceeding five per cent. of the value of the REIT assets during the year;
(c) additional issue of units by the REIT;
205 Inserted by the SEBI (Real Estate Investment Trusts) (Amendment) Regulations, 2016, w.e.f. 30.11.2016 206 Substituted for “twenty five per cent. of the total outstanding units” by the SEBI (Real Estate Investment Trusts) (Amendment) Regulations, 2016, w.e.f. 30.11.2016 207 Substituted for “trustee” the trustee may provide a period of one year to the manager to rectify the same, failing which 208 Inserted by the SEBI (Real Estate Investment Trusts) (Amendment) Regulations, 2016, w.e.f. 30.11.2016 55
(d) details of any credit rating obtained by the REIT and any change in such rating;
(e) any issue which requires approval of the unit holders;
(f) any legal proceedings which may have significant bearing on the functioning of the REIT;
(g) notices and results of meetings of unit holders;
(h) any instance of non-compliance with these regulations including any breach of limits specified under these regulations;
(i) any material issue that in the opinion of the manager or trustee needs to be disclosed to the unit holders.
(6) The manager shall submit such information to the designated stock exchanges and unit holders on a periodical basis as may be required under the listing agreement.
(7) The manager shall disclose to the designated stock exchanges, unit holders and the Board such information and in the manner as may be specified by the Board..
Submission of reports to the Board.
24. The Board may at any time call upon the REIT or parties to the REIT to file such reports, as the Board may desire, with respect to the activities relating to the REIT.
Power to call for information.