REIT Industry Bodies Back Sebi Chief Amidst Hindenburg Allegations
Industry bodies representing Real estate investments trusts (REITs) and alternate capital have come out in support of Sebi chief Madhabi Puri Buch amidst allegations by US-based short-seller Hindenburg.
ReitSebiHindenburgIndian Reits AssociationIndian Venture And Alternate Capital AssociationReal Estate MumbaiAug 12, 2024
The Indian REITs Association (IRA) has termed the allegations made by Hindenburg as “baseless and misleading”. The IRA said that the REIT framework made by markets regulator Sebi was developed in consultation with all market participants and ensures the highest levels of investor protection for both domestic and international institutional investors, as well as retail investors.
The Indian Venture and Alternate Capital Association (IVCA) has also come out in support of Buch, saying that it stands firmly behind her in these “challenging times”. The IVCA added that Sebi has shown an “unwavering commitment to market integrity, regulatory governance, and investor protection.The Association of Mutual Funds in India (Amfi) had on Sunday backed Buch, saying that creating a trust deficit in the market ecosystem must be seen for what they truly are attempts to create sensation by connecting random events done in the past.
The IRA statement said that after coming into being in 2014, there are four listed REITs at present managing assets of over Rs 1.4 lakh crore and serving over 2.4 lakh unitholders. Prominent global institutional investors have invested in REITs, it said, adding that their participation strengthens the trust and credibility of India’s financial system.
The IVCA said that Sebi plays a crucial role in maintaining the integrity and stability of our financial ecosystem. “We believe that the recent allegations made by Hindenburg are unwarranted and do not reflect a deep understanding of the Indian regulatory environment,” it added.The IVCA statement said that the allegations made by Hindenburg are an attempt to create a negative narrative about the Indian regulatory environment and undermine the confidence of investors in the Indian market.
In the past, Sebi has taken several steps to strengthen the regulatory framework for REITs and has worked towards creating a more transparent and investor-friendly environment.The IRA and IVCA statements come amidst allegations by Hindenburg that the REIT framework made by Sebi serves the interests of a select few.
Information
Madhabi Puri Buch is the chairperson of the Securities and Exchange Board of India (Sebi).
The Indian REITs Association (IRA) is an industry body that represents the interests of Real estate investments trusts (REITs) in India.
The Indian Venture and Alternate Capital Association (IVCA) is an industry body that represents the interests of venture capital and alternate capital firms in India.
The Association of Mutual Funds in India (Amfi) is an industry body that represents the interests of mutual funds in India
The Securities and Exchange Board of India (Sebi) is the regulator of the securities market in India.
The Indian REITs Association (IRA) is a self-regulatory organization that represents the interests of REITs in India.
The Indian Venture and Alternate Capital Association (IVCA) is a self-regulatory organization that represents the interests of venture capital and alternate capital firms in India.
The Association of Mutual Funds in India (Amfi) is a self-regulatory organization that represents the interests of mutual funds in India.
Frequently Asked Questions
What is the Indian REITs Association (IRA)?
The Indian REITs Association (IRA) is an industry body that represents the interests of Real estate investments trusts (REITs) in India.
What is the Indian Venture and Alternate Capital Association (IVCA)?
The Indian Venture and Alternate Capital Association (IVCA) is an industry body that represents the interests of venture capital and alternate capital firms in India.
What is the Association of Mutual Funds in India (Amfi)?
The Association of Mutual Funds in India (Amfi) is an industry body that represents the interests of mutual funds in India.
Who is Madhabi Puri Buch?
Madhabi Puri Buch is the chairperson of the Securities and Exchange Board of India (Sebi).
What are the allegations made by Hindenburg against Sebi?
Hindenburg has alleged that the REIT framework made by Sebi serves the interests of a select few.
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