The Securities and Exchange Board of India (SEBI) has issued an amendment to the Master Circular for Infrastructure Investment Trusts (InvITs), effective immediately. The amendment introduces changes based on recommendations from a Working Group and the Hybrid Securities Advisory Committee (HySAC) to streamline compliance and improve ease of doing business for InvITs.

1. Investor Complaints Review:

- Previously, the Board of Directors of the Investment Manager was required to review investor complaints before submission to the stock exchanges. The amendment removes this requirement. Instead, the Trustee and the Board of Directors/Governing Body must ensure timely redressal of complaints, with the statement of complaints reviewed quarterly by the Board and Trustee.

2. Disclosure of Statement of Deviations:

- The amendment aligns the disclosure timeline for deviations in the use of proceeds with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Statements of deviations must now be submitted to the stock exchanges along with financial results on a quarterly basis, rather than within 21 days from the end of each quarter.

These changes aim to simplify regulatory processes and align InvIT regulations with existing SEBI guidelines.