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.
SEBI gives power to executive directors, whole-time members on reduction, waiver of interest for unpaid penalty
SEBI has empowered panels of Executive Directors and Whole-time Members to waive or reduce interest in recovery cases under specific conditions. This excludes cases involving