Embassy Office Parks, India's largest real estate investment trust (REIT), said on Tuesday that Aravind Maiya will be stepping down as CEO of Embassy REIT, effective immediately, after the country's markets regulator said he was not fit to hold the position.

Embassy Office Parks, India's largest real estate investment trust (REIT), announced on Tuesday that Aravind Maiya will step down as CEO of Embassy REIT, effective immediately. The decision comes shortly after Indian markets regulator SEBI directed Embassy ...

Aravind Maiya, the CEO of Embassy Office Parks Management Services that manages Embassy REIT, will step down from his post following market regulator Sebi's direction to suspend him and appoint an interim CEO immediately.

"While we are reviewing the order and evaluating all options, in compliance with SEBI’s directive, effective immediately, Aravind Maiya will be stepping down as CEO of Embassy REIT. He will assume the role of Head of Strategy for Embassy REIT," the filing read.

Sebi has directed Embassy Office Parks Management to suspend CEO Aravind Maiya due to a ten-year debarment from audit activities by NFRA for professional misconduct. This action aims to protect investors and ensure compliance with regulations regarding the fitness of management personnel.

Embassy REIT CEO Aravind Maiya steps down following SEBI's order to suspend him based on an NFRA ruling related to Coffee Day Enterprises audit lapses.

MUMBAI: Market regulator Sebi has ordered Embassy REIT’s manager to immediately sack its CEO Aravind Maiya for “harming ordinary investors” of Coffee Day and also appoint an interim CEO in his place.

Embassy REIT announced CEO Maiya's resignation after SEBI issued a show-cause notice citing his disqualification following a 10-year audit ban

Embassy Office Parks , India's largest real estate investment trust (REIT), said on Tuesday that Aravind Maiya will be stepping down as CEO of Embassy REIT, effective immediately.