SEBI has published Consultation on Draft Amendments to Master Circulars for REITs dated May 15, 2024. The amendment provides that the Eligible Unitholder(s) shall be entitled to nominate only one Unit holder Nominee Director, subject to the unit holding of such Eligible Unit holder(s) exceeding the specified threshold. If the right to nominate one or more directors on the Board of Directors of the Investment Manager is available to any entity (or to an associate of such entity) in the capacity of shareholder of the Investment Manager or lender to the Investment Manager or the REIT (or its Hold Co(s) or SPVs), then such entity in its capacity as unitholder, shall not be entitled to nominate or participate in the nomination of a Unitholder Nominee Director.
Public comments are invited on the draft Circulars -Amendment to Master Circular for REITs dated May 15, 2024”. The comments/ suggestions should be submitted by latest by July 29, 2024.
