What are the amendments made by SEBI vide amendment to Master Circular for Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) dated May 15, 2024, related to: (i) The board nomination righ

(i) Amendment related to Board nomination rights to unitholders of REITs/InvITs (August 06, 2024) Eligible Unitholder(s) shall be entitled to nominate only one Unitholder Nominee Director, subject to the unitholding of such Eligible Unitholder(s) exceeding the specified threshold. If the right to nominate one or more directors on the Board of Directors of the Manager/ Investment Manager is available to any entity (or to an associate of such entity) in the capacity of shareholder of the Manager/Investment Manager or lender to the Manager/Investment Manager or the REIT/InvIT (or its HoldCo(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. SEBI vide this circular stated that the above restrictions relating to right to appoint a unitholder director shall not be applied if the right to appoint a nominee director is available in terms of clause (e) of sub-regulation (1) of regulation 15 of the SEBI (Debenture Trustees) Regulations, 1993.