Rights of Investors / Unit Holders
Investors shall have right to remove the manager, auditor, principal valuer; seek delisting of units; apply to SEBI for change in trustee; etc.
An annual meeting of all investors is mandatory, convened by the Trustee, to discuss matters such as latest annual accounts, valuation reports, performance of the REIT, approval of auditors and their fees, appointment of principal valuer, etc.
Approval of at least 75% of investors is mandatory in cases such as certain related party transactions, any transaction with value exceeding 15% of the REIT assets, borrowing exceeding 25%, change in manager/ sponsor, change in investment strategy, delisting of units, etc. In all other cases, approvals from at least 60% of the investors is mandatory.
