Eligibility criteria

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..... y of the foregoing provision, the Board shall consider the following, namely, (a) the applicant is the investment manager on behalf of the trust and the instrument of trust is in the form of a deed duly registered in India under the provisions of the Registration Act, 1908; (b) the trust deed has its main objective as undertaking activity of SM REIT through one or more schemes in accordance with t .....

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..... t manager is unable to meet the above requirement, it shall employ at least two key managerial personnel, each of whom have not less than five years experience in the real estate industry or real estate fund management; (iv) not less than half of the directors of the investment manager are independent and are not directors of the manager or investment manager of another REIT or SM REIT, as the cas .....

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..... specified in Schedule II of the Securities and Exchange Board of India (Intermediaries) Regulations, 2008; (j) whether any previous application for grant of certificate by the applicant or the parties to the SM REIT or their directors, for registration as a REIT or an SM REIT, has been rejected by the Board; and (k) whether any disciplinary action has been taken by the Board or any other regulato .....

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