Embassy Office Parks REIT on Thursday announced the appointment of Ritwik Bhattacharjee as its interim chief executive officer (CEO) with immediate effect, after its earlier CEO Aravind Maiya made an exit on Tuesday after SEBI’s orders.
Bhattacharjee has worked with REIT since its listing and was also a founding member of the team that helped list Embassy REIT in 2019, the REIT said. Bhattacharjee last held the position of chief investment officer at Embassy REIT.
Maiya stepped down after the SEBI instructed Embassy Office Parks Management Services, the manager of Embassy REIT, to suspend Maiya from the CEO position immediately. The directive comes in the wake of concerns about Maiya’s professional background following an investigation by the National Financial Reporting Authority (NFRA) related to his role as an auditor in a past financial misconduct case.
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Maiya assumed role of head of strategy at the REIT after he stepped down as CEO.
Prior to joining Embassy REIT, Bhattacharjee spent over 12 years as an investment banker at global firms, including Nomura, Citi, UBS, and JPMorgan. As an investment banker, Ritwik has worked on numerous REIT and real estate capital markets and advisory transactions in New York and Singapore.
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