Regulation 26 - Maintenance of records - Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014

Maintenance of records. 26. (1) The manager shall maintain records pertaining to the activity of the REIT including, 1 [for a period of not less than seven years,]- (a) decisions of the manager with respect to investments or divestments and documents supporting the same; (b) details of investments made by the REIT and documents supporting the same; (c) agreements entered into by the REIT or on behalf of the REIT; (d) documents relating to appointment of persons as specified in sub-regulation (5) of regulation 10; (e) insurance policies for real estate assets; (f) investment management agreement; (g) documents pertaining to issue and listing of units including initial offer document or follow-on offer document(s) or other offer document(s), in-principle approval by designated stock exchanges, listing agreement with the designated stock exchanges, details of subscriptions, allotment of units, etc.; (h) distributions declared and made to the unit holders; (i) disclosures and periodical reporting made to the trustee, Board, unit holders and designated stock exchanges including annual reports, half yearly reports, etc.; (j) valuation reports including methodology of valuation; (k) books of accounts and financial statements; (l) audit reports; (m) reports relating to activities of the REIT placed before the Board of Directors of the manager; (n) unit holders' grievances and actions taken thereon including copies of correspondences made with the unit holders and the Board, if any; (o) any other material documents. (2) The trustee shall maintain records pertaining to,- (a) certificate of registration granted by the Board; (b) registered trust deed; (c) documents pertaining to application made to the Board for registration as a REIT; (d) titles of the real estate assets: Provided that where the original title documents are deposited with the lender in respect of any loan / debt, the trustee shall maintain copies of such title documents; (e) notices and agenda send to unit holders for meetings held; (f) minutes of meetings and resolutions passed therein; (g) periodical reports and disclosures received by the trustee from the manager; (h) disclosures, periodically or otherwise, made to the Board, unit holders and to the designated stock exchanges; (i) any other material documents. (3) The records specified in 2 [ sub-regulation (1) and ] sub-regulation (2) may be maintained in physical or electronic form: Provided that where records are required to be duly signed and are maintained in the electronic form, such records shall be digitally signed. 3 [ (4) The manager and the trustee shall ensure that adequate backup systems, data storage capacity, system capacity for secure handling, data transfer and arrangements for alternative means of communication in case of internet link failure, are maintained for the records maintained electronically. (5) The manager and trustee shall ensure that a business continuity plan and disaster recovery site is in place for the records maintained electronically, to maintain data and transaction integrity. ] ************** NOTES:- 1 Inserted by the SEBI (Real Estate Investment Trusts) (Amendment) Regulations, 2016, w.e.f. 30.11.2016 2. Inserted vide Notification No. SEBI/LAD-NRO/GN/2024/208 dated 26-09-2024 w.e.f. 26-09-2024 3. Inserted vide Notification No. SEBI/LAD-NRO/GN/2024/208 dated 26-09-2024 w.e.f. 26-09-2024