Brookfield India Real Estate Trust REIT has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Brookprop Management Services (Manager of Brookfield India REIT) received a show-cause notice from SEBI dated June 11, 2024. The notice was issued under SEBI's penalty procedure rules, relating to regulation 7(d) and clauses 5 and 7 of Schedule VI of the SEBI REIT Regulations, and involves Sections 15-I and 15HB of the SEBI Act. The Manager has already submitted its response to the notice. Additionally, a settlement application has been filed with SEBI, which is currently awaiting a decision. This is a status update referencing earlier disclosures from September 2024 and November 2024, with no new developments beyond reminding the exchange of the pending matter.
The matter remains open with no penalty or order imposed yet. Outcome of the pending settlement application could affect future compliance costs and sentiment, but no immediate financial impact on unit holders is indicated.