SEBI relies on amended rules in Embassy REIT 'Fit and Proper' matter, tells Bombay HC no disqualification made out

The Securities and Exchange Board of India (SEBI) has told the Bombay High Court that its examination of complaints concerning the "fit and proper" status of persons associated with Embassy Office Parks REIT was completed after the regulatory framework was amended in April 2026, and that the material available did not warrant disqualification under the amended provisions.