Securities And Exchange Board Of India - Subsection
Section 16(7) in Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014
(7)The minimum public holding for the units of the listed REIT shall be [in accordance with the sub-regulation (2A) of Regulation 14] [Substituted 'twenty five per cent.the total number of outstanding units at all times, and the number of unit holders of the REIT forming part of the public shall be two hundred at all times' by Notification No. SEBI/L.A.D.-NRO/GN/2016-17/022, dated 29.11.2016 (w.e.f. 26.9.2014).], failing which action may be taken as may be specified by the Board and by the designated stock exchange including delisting of units under regulation 17:Provided that in case of breach of the conditions specified in this sub-regulation, the trustee may provide a period of six months to the manager to rectify the same, failing which the manager shall apply for delisting under Regulation 17.
