Governance

At Mindspace REIT, we believe that a sound corporate governance framework will enable us to deliver sustainable value to our stakeholders. We maintain high standards of ethics, integrity, accountability, and transparency with the aim of safeguarding interests of our unitholders and creating more inclusive societies.

We respect the rights of our stakeholders and aim to apply stringent measures while sustainably maintaining sourcing and supplier engagements. Our ESG strategy is reinforced by a strong governing structure and a robust framework, complemented by partnerships with leading institutional investors.

Our Board diversity, training on governance practices and governance-related focus areas include:

Segment

Initiatives and engagements

Board Diversity

  • Experts from tax, regulatory, investment banking and other domains that oversee the strategy and policy implementation
  • Undertake and support initiatives like ‘Pride Side’, POSH, ‘Aanchal’ and ‘Reach Out’

27%

Women workforce at management level

Ensuring Independence
of Board

  • Majority of the Governing Board members are independent
  • four out of six Board Members are independent
  • The Chairperson of all the Board Committees is independent
  • Independent valuer undertakes valuations of all properties on a half yearly basis
  • Sponsors and sponsor group are prohibited from voting on Related Party Transactions in which they are interested

Board’s involvement in
Strategy & Policy Formulation

  • Decides priorities, sets goals and objectives for the management
  • Considers and approves management proposals around strategy, policies, and budgets
  • Oversees implementation of the strategy by the management through periodic reviews
  • Considers and approves the business plan and assesses deviations thereof

Adoption of fair accounting
and business practices

  • Appointing statutory auditors from the ‘Big four accounting firms
  • Detailed quarterly financials prepared and disclosed to stock exchanges
  • Mindspace REIT and Asset SPVs have adopted Related Party Transactions (RPT) policy as per which all RPTs are undertaken at arm’s length and in compliance with applicable laws. These are approved by the Audit committee of Mindspace REIT and disclosed to stock exchanges where units of Mindspace REIT are listed, and to unitholders

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