Allotment and listing

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..... cheme shall be allotted and listed with such timelines as may be specified by the Board from time to time: Provided that if the investment manager fails to allot or list units within the specified timelines, the investment manager shall pay interest to investors at the rate of fifteen per cent. per annum and such interest shall not be recovered in the form of fees or any other  .....

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..... g units of such scheme of the SM REIT.] 2[(6) Any person other than the investment manager holding units of the scheme of SM REIT prior to initial offer shall hold the units for a period of not less than one year from the date of listing of the units, subject to circulars or guidelines as may be specified by the Board.]     ************** NOTES:- 1. Inserted vide Notification No. .....

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