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TMI BlogRights and responsibilities of managerX X X X Extracts X X X X X X X X Extracts X X X X ..... able by and on behalf of the REIT or 3 [holdco and/or] SPV. (3) The manager shall ensure that the investments made by the REIT are in accordance with the investment conditions specified in regulation 18 and in accordance with the investment strategy of the REIT. (4) The manager shall undertake management of the REIT assets including lease management, maintenance of the assets, regular structural audits, regular safety audits, etc. either directly or through the appointment and supervision of appropriate agents. (5) The manager, in consultation with trustee, shall appoint the valuer(s), auditor, registrar and transfer agent, merchant banker, custodian and any other intermediary or service provider or agent for managing the assets of the REIT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r-construction properties as per these regulations, the manager- (a) may undertake the development of the properties, either directly or through the SPV, or appoint any other person for development of such properties; and (b) shall oversee the progress of development, approval status and other aspects of the properties upto its completion. (9) The manager shall ensure that it has adequate infrastructure and sufficient key personnel with adequate experience and qualification to undertake management of the REIT at all times. (10) The manager 5 [and the merchant banker(s) shall] shall be responsible for,- (a) filing 6 [***] offer document with the Board and the designated stock exchange within the specified time period; (b) obtaining in-princi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... out of transactions pertaining to the REIT other than as specified in the offer document or any other document as may be specified by the Board for the purpose of issue of units. (18) The manager shall submit to the trustee,- (a) quarterly reports on the activities of the REIT including receipts for all funds received by it and for all payments made, position on compliance with these regulations, specifically including compliance with regulations 18,19 and 20, performance report, status of development of under-construction properties, within thirty days of end of such quarter; (b) valuation reports as required under these regulations within fifteen days of the receipt of the valuation report from the valuer; (c) decision to acquire or sell ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... manager may appoint a custodian in order to provide such custodial services as may be authorised by the trustees and oversee activities of such custodian. (25) The manager shall place, before its board of directors in the case of a company or the governing board in case of an LLP, a report on activity and performance of the REIT every three months. (26) The manager shall designate an employee or director as the compliance officer for monitoring of compliance with these regulations and circulars issued thereunder and intimating the Board in case of any violation. (27) The manager shall convene meetings of the unit holders in accordance with regulation 22 and maintain records pertaining to the meetings in accordance with regulation 26. (28) T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... w.e.f. 30.11.2016 9 Inserted by the SEBI (Real Estate Investment Trusts) (Amendment) Regulations, 2016, w.e.f. 30.11.2016 10 Substituted for twice annually by the SEBI (Real Estate Investment Trusts) (Amendment) Regulations, 2016, w.e.f. 30.11.2016 11 Substituted for forty five by the SEBI (Real Estate Investment Trusts) (Amendment) Regulations, 2016, w.e.f. 30.11.2016 12 Omitted and half-year ending on September 30th by the SEBI (Real Estate Investment Trusts) (Amendment) Regulations, 2016, w.e.f. 30.11.2016. 13. Substituted vide Notification No. SEBI/LAD-NRO/GN/2023/123 dated 14-02-2023 before it was read as, (6) The manager shall appoint an auditor for a period of not more than five consecutive years: Provided that the auditor, not bein ..... X X X X Extracts X X X X X X X X Extracts X X X X
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