SEBI enables board nomination rights

13 Sep 2023 CW Team

India's markets regulator, the Securities and Exchange Board of India (SEBI), has issued a framework that enables eligible unitholders to exercise board nomination rights in Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs). Eligible unitholders are those individuals or entities holding 10 per cent or more of the total outstanding units of a particular REIT or InvIT, either individually or in a collective capacity.

SEBI's decision to introduce board nomination rights for unitholders in REITs and InvITs was approved during its board meeting on June 28. The move is aimed at enhancing governance and transparency within these investment vehicles.

Under the framework, the manager of a REIT or InvIT is required to periodically assess whether eligible unitholders, who have exercised their board nomination rights, continue to meet the necessary unit ownership criteria. This review process must be completed within ten days from the end of each calendar month.

Furthermore, the manager is obligated to submit a report to the trustee of the relevant REIT or InvIT regarding the unitholders who have exercised their nomination rights.

One key aspect of this framework is that eligible unitholders now have the right, though not the obligation, to nominate an individual for appointment as a unitholder nominee director. This represents a significant development in terms of corporate governance within REITs and InvITs.

The introduction of this framework by SEBI is seen as a positive step towards further professionalising and regulating India's REIT and InvIT markets, offering investors additional avenues for influence and oversight within these investment structures. It aligns with SEBI's commitment to creating a more transparent and accountable investment environment in the country's real estate and infrastructure sectors.

Infrastructure Urban

07 Nov 2025

Welspun Enterprises Wins 910 MLD Panjrapur WTP Contract

Welspun Enterprises (WEL), the infrastructure and energy arm of Welspun World, has secured a major contract from the Brihanmumbai Municipal Corporation (BMC) to design, build and operate a 910 million litres per day (MLD) Water Treatment Plant (WTP) at Panjrapur, Maharashtra.Valued at approximately Rs 31.45 billion, the project encompasses end-to-end civil, mechanical, electrical and instrumentation works, including the construction of a treated water sump and pumping station. Of the total value, nearly Rs 11.56 billion is allocated to Operations & Maintenance (O&M), with an additional..

Mitsubishi Power Wins Boiler Upgrade Contract for O Mon 1 Plant

Mitsubishi Power, a power solutions brand of Mitsubishi Heavy Industries, (MHI), has been awarded a contract to support the oil-to-natural-gas fuel conversion at the O Mon 1 Thermal Power Plant in Can Tho, southern Vietnam. As the OEM of the plant’s existing boiler, Mitsubishi Power will supply key equipment—including new gas burners—and implement a selective catalytic reduction (SCR) system to reduce NOx emissions and help the plant meet stricter environmental standards.The O Mon 1 facility includes two 330 MW units that commenced operations in 2009 and 2015, with all major equipment or..

Liebherr’s 10,000th XPower Wheel Loader Joins BERGER’s Fleet

BERGER Rohstoffe GmbH has welcomed the 10,000th Liebherr XPower wheel loader to its operations at the Schlag granite quarry in Passau. The milestone machine, officially handed over at Liebherr’s Bischofshofen plant in May 2025, underscores the long-standing partnership between BERGER, Liebherr, and the Beutlhauser Group. Equipped with Liebherr’s signature power-split travel drive, the new L 580 XPower is already delivering strong results under demanding quarry conditions.At the Schlag quarry, BERGER Rohstoffe processes approximately 200,000 tonnes of Bayerwald granite annually into high-qu..