Sebi allows foreign portfolio investors to write off debt securities

Market regulator Sebi on Monday allowed foreign portfolio investors (REITs) to write off any debt securities they are unable to sell.

This will only apply to REITs that wish to relinquish their registration, the Securities and Exchange Board of India (Sebi) said in a circular.

“In view of the requests received from various stakeholders, it has now been decided to allow REITs to also write off any debt securities in their beneficiary account that they are unable to sell for whatever reason.

“This will only apply to REITs who wish to relinquish their registration,” Sebi said.

In September, the regulator allowed REITs to delist the shares of any companies they are unable to sell.

For delisting, the process prescribed in the operational guidelines must be followed, he added.

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

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John A. Bogar