Archive · 31 Jul 2026
SEBI’s stance weakens charges against Embassy REIT
The Securities and Exchange Board of India (SEBI) said it had looked at a complaint against Embassy Group’s REIT and decided it probably wouldn’t help the people who filed the complaint.
Embassy Group says the complaints are part of a plan to repeat the same accusations in different courts.
They also question when the complainant bought shares in the REIT, suggesting it might have been to get a legal advantage.
SEBI will explain its decision in a written statement by August 27.
The court will hear the case on September 9.
Embassy says it has a good record of running its REIT well.
SEBI’s review weakens the allegations against Embassy Group’s REIT.
SEBI found the representation unlikely to support the relief sought by the petitioners.
Embassy claims the petitions are a coordinated attempt to recycle similar charges.
SEBI must file affidavits by August 27; petitioners can reply by September 4; hearing on September 9.
Embassy highlights its governance record to counter the allegations.
- Who
- Embassy Group, SEBI, Sterling & Wilson
- What
- SEBI’s decision weakens allegations against Embassy REIT
- When
- Decision announced Friday; affidavits due August 27, 2024; hearing September 9, 2024
- Where
- Bombay High Court, India
- Why
- SEBI found the representation unlikely to support relief and Embassy claims petitions are coordinated recycling of charges
- Regulator
- Securities and Exchange Board of India
- Company
- Embassy Group
- REIT
- Embassy Office Parks REIT
- Court
- Bombay High Court
- Affidavit Deadline
- August 27, 2024
- Hearing Date
- September 9, 2024