Regulation 26B - Additional Requirements - Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014

1 [ Additional Requirements. 26B . (1) The Board of Directors of the Manager shall comprise of not less than six directors and have not less than one woman independent director 2 [ : ] 3 [ Provided that if by a vacancy in the office of a director of the manager, the manager becomes non- compliant with the requirement, such vacancy shall be filled by the manager as follows - A. if such vacancy arises due to expiry of the term of office of the director, then the resulting vacancy shall be filled not later than the date such office is vacated; or B. if such vacancy arises due to any other reason, then the resulting vacancy shall be filled at the earliest and not later than three months from the date of such vacancy. ] (2) The quorum for every meeting of the Board of Directors of the Manager shall be one-third of its total strength or three directors, whichever is higher, including at least one independent director. Explanation - The participation of the directors by video conferencing or by other audio-visual means shall be counted for the purpose of quorum and shall be recorded by the Manager. (3) The Board of Directors of the Manager shall review compliance reports every quarter pertaining to all laws applicable to the REIT as well as steps taken to rectify instances of non-compliances. (4) The minimum information as specified in Part A of Schedule VIII shall be placed before the Board of Directors of the Manager. (5) The Compliance Officer, Chief Executive Officer and the Chief Financial Officer shall provide the compliance certificate to the Board of Directors of the Manager as specified in in Part B of Schedule VIII along with supporting evidence thereof. (6) The Board of Directors of the Manager shall set forth clearly the recommendation of the Manager in the notice to the unitholders for each item referred to in sub regulation (6) of regulation 22 of these regulations. ] *************** NOTES:- 1. Inserted vide Notification No. SEBI/LAD-NRO/GN/2023/123 dated 14-02-2023 w.e.f. 01-04-2023 2. Substituted vide F. No. SEBI/LAD-NRO/GN/2025/241 dated 22-04-2025 before it was read as, . 3. Inserted vide F. No. SEBI/LAD-NRO/GN/2025/241 dated 22-04-2025