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[Cites 0, Cited by 0] [Section 4(2)] [Section 4] [Entire Act]

Securities And Exchange Board Of India - Subsection

Section 4(2)(e) in Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014

(e)with regard to the manager,-
(i)the manager has a net worth of not less than ten crore rupees if the manager is a body corporate or a company or net tangible assets of value not less than ten crore rupees in case the manager is a LLP;
(ii)the manager or its associate has not less than five years experience in fund management or advisory services or property management in the real estate industry or in development of real estate;
(iii)the manager has not less than two key personnel who each have not less than five years experience in fund management or advisory services or property management in the real estate industry or in development of real estate;
(iv)the manager has not less than half, of its directors in the case of a company or of members of the governing Board in case of an LLP, as independent and not directors or members of the governing Board [of the manager] [Inserted by Notification No. SEBI/LAD-NRO/GN/2018/06, dated 10.4.2018 (w.e.f. 29.9.2014).] of another REIT; and
(v)the manager has entered into an investment management agreement with the trustee which provides for the responsibilities of the manager in accordance with regulation 10;