Constitution of an Expert Committee on REITs and InvITs in IFSC

IFSCA directs for Constitution of an Expert Committee on REITs and InvITs in IFSC. The Expert Committee will be chaired by Shri Ananta Barua, Former Whole Time Member, SEBI. The Committee comprises of leaders and experts from various stakeholders such as issuers, investment bankers, consultancy firms, law firms, stock exchange, etc.

The Terms of Reference (ToR) of the Expert Committee are as under:

1. To provide recommendations on policy measures to facilitate the development of REITs and InvITs in GIFT IFSC.
2. To study the global best practices for Business Trusts and make recommendations for GIFT IFSC.
3. To make recommendations for amendments in the various legal, taxation and regulatory frameworks for setting up of REITs and InvITs in GIFT IFSC.
4. To make recommendations for listing of foreign currency denominated securities issued by Indian REITs and InvITs on the stock exchanges in GIFT IFSC.
5. To make recommendations on enabling the regulatory framework for Micro, Small and Medium REITs in GIFT IFSC.
6. To make suggestions for promoting innovation in REITs and InvITs at GIFT IFSC.
7. To suggest a roadmap for establishing GIFT IFSC as a preferred gateway for financing real estate and infrastructure projects of India and the region
8. Any other matter related to REITs and InvITs.