Regulator to explain its stand on allegations against Embassy Office Parks REIT sponsor and promoters.

Bombay HC Gives SEBI Time to File Affidavits in Embassy REIT Case.

The Bombay High Court has granted the Securities and Exchange Board of India (SEBI) additional time to file detailed affidavits in two writ petitions concerning allegations against the sponsor and promoters of Embassy Office Parks REIT. During the hearing, SEBI informed the Court that it had already examined the representation forming the basis of the first petition and would submit a reasoned affidavit explaining its decision, which is unlikely to support the relief sought by the petitioner. The regulator also stated that the second petition raises similar issues but requires an independent review of the representations and departmental inputs before deciding on any regulatory action. SEBI further noted that amendments to the "fit and proper person" criteria may influence the case. A Division Bench comprising Justice R. I. Chagla and Justice Farhan Dubash directed SEBI to file its affidavits by August 27, 2026, with the next hearing scheduled for September 9, 2026.