Tag: InvITs

Sebi has given unitholders of REITs and InvITs the right to nominate directors to the boards of the investment managers of the trusts. The eligibility of the unitholders to nominate directors will be decided based on the unitholding pattern as on September 30, 2023. The investment manager will evaluate the candidate and confirm their eligibility within 10 days of receiving the nomination. If the candidate is found to be eligible, the investment manager will have to appoint them to the board within 30 days.