Embassy REIT CEO steps down after Sebi order: Report

Sebi directed Embassy Office Parks Management Services, the manager of Embassy REIT, to suspend Aravind Maiya as CEO of Embassy REIT, in an interim order

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.

Sebi also told Embassy on Monday to appoint an interim CEO with immediate effect.(Reuters)

The decision comes shortly after Indian markets regulator SEBI directed Embassy Office Parks Management Services, the manager of Embassy REIT, to suspend Maiya in an interim order. The regulator also told Embassy on Monday to appoint an interim CEO with immediate effect.