The response came after a Division Bench of Justices R I Chagla and Farhan P Dubash recorded SEBI's statement that it was examining representations submitted by petitioner Chayan Upadhyay regarding whether Respondent including Embassy Property Developments Pvt Ltd, its Directors satisfy the "fit and proper person" criteria under the SEBI (Real Estate Investment Trusts) Regulations, 2014, read with Schedule II of the SEBI (Intermediaries) Regulations.
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