Amendment to Master Circular for Real Estate Investment Trusts (REITs) dated May 15, 2024 – Board nomination rights to unitholders of REITs

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....ories Madam/Sir, Sub: Amendment to Master Circular for Real Estate Investment Trusts (REITs) dated May 15, 2024 - Board nomination rights to unitholders of REITs 1. Para 18.2.2. (b) of Chapter 18, titled "Board nomination rights to unitholders of REITs", of the Master Circular for Real Estate Investment Trusts dated May 15, 2024 requires as under: "(b) Eligible Unitholder(s) shall be entitled....

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.... the capacity of lender to the Manager or the REIT (or its HoldCo(s) or SPVs). 3. In order to promote ease of doing business and based on the request of the industry and recommendation of Hybrid Securities Advisory Committee (HySAC), it is proposed to insert the following proviso under under paragraph 18.2.2. (b) of Master Circular for Real Estate Investment Trusts dated May 15, 2024: "Provided....