CosmicTaco

Embassy REIT CEO Steps Down Amid SEBI Order

CosmicTaco · 2024-11-05T08:32:29.248491+05:30

- Embassy Office Parks' CEO Aravind Maiya steps down effective immediately. - SEBI directed the suspension following NFRA's 10-year audit ban on Maiya. - An interim CEO is to be appointed by Embassy Office Parks immediately. - NFRA imposed a ₹50 lakh penalty on Maiya for audit lapses in Coffee Day Enterprises. - SEBI issued a show cause notice to Embassy Office Parks for compliance issues. Source: [Hindustan Times](https://www.hindustantimes.com/business/embassy-reit-ceo-steps-down-after-sebi-order-report-101730773862013.html), [Mint](https://www.livemint.com/companies/news/sebi-orders-suspension-of-embassy-office-parks-ceo-aravind-maiya-after-nfra-ban-here-are-the-details-11730733644340.html)

Embassy Office Parks' CEO Aravind Maiya steps down effective immediately.
SEBI directed the suspension following NFRA's 10-year audit ban on Maiya.
An interim CEO is to be appointed by Embassy Office Parks immediately.
NFRA imposed a ₹50 lakh penalty on Maiya for audit lapses in Coffee Day Enterprises.
SEBI issued a show cause notice to Embassy Office Parks for compliance issues.

Source: Hindustan Times, Mint