TMI BlogConducting meeting of unitholders of InvITs and REITs through Video Conferencing (VC) or through other audio-visual means (OAVM)X X X X Extracts X X X X X X X X Extracts X X X X ..... olding of an annual meeting of all unitholders of InvIT not less than once a year. 2. Regulation 22(3) of SEBI (Real Estate Investment Trusts) Regulations, 2014 ( REIT Regulations ) inter alia provides for holding of an annual meeting of all unitholders of REIT not less than once a year. 3. Further, meeting of unitholders are also required for matters which require approval of unitholders of InvITs/ REITs. 4. In this respect, representations have been received to allow InvITs/ REITs to conduct meeting of unitholders through Video Conferencing (VC) or through other audio-visual means (OAVM). 5. In this regard, it is clarified that InvITs/ REITs may conduct meeting of unitholders through VC or OAVM. InvITs/ REITs conducting su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oned in different time zones shall be kept in mind before scheduling the meeting. 3. All care must be taken to ensure that such meetings through VC or OAVM allow two-way teleconferencing for the ease of participation of the unitholders and the participants are allowed to pose questions concurrently or given time to submit questions in advance on the email address of the InvIT/ REIT. Such facility must have a capacity to allow at least 1000 unitholders or actual no. of unitholders, whichever is lesser to participate on a first-come-first-served basis. Further, all the parties to the InvIT/ REIT shall be allowed to attend the meeting without restriction on account of first-come-first-served principle. 4. The facility for joining the mee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the unitholders and also contain clear instructions on how to access and participate in the meeting. Investment Manager of the InvIT/ Manager of the REIT shall also provide a helpline number through the registrar and unit transfer agent, technology provider or otherwise, for unitholders who need assistance with the technology before or during the meeting. Such notice shall also include the following: (i) Statement that the meeting will be convened through VC or OAVM in compliance with applicable provisions. (ii) The date and time of meeting through VC or OAVM. (iii) Availability of the notice of the meeting on website of the InvIT/ REIT and stock exchanges, in case of listed InvITs/ REITs (iv) The manner in which unitholders ..... X X X X Extracts X X X X X X X X Extracts X X X X
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