Mindspace Business Parks REIT has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Mindspace Business Parks REIT, through its manager K Raheja Corp Investment Managers, filed its Annual Secretarial Compliance Report for FY2024-25 as required under SEBI's REIT Regulations. The report, prepared by Chandrasekaran Associates (Practising Company Secretaries), confirms overall compliance with SEBI Regulations, REIT Regulations, Listing Rules, NCS Rules, Insider Trading Rules, Depositories Rules, and FEMA. However, two regulatory actions were disclosed: (1) An SEBI administrative warning letter dated March 28, 2025 for inadequate disclosure of 5-year unit price performance history and missing material/price-sensitive information in Annual and Half-yearly reports — the manager has informed exchanges and taken steps to prevent recurrence. (2) An SEBI settlement order (SO/AS/DP/2024-7436) involving alleged errors in NDCF calculations at SPV level, incorrect/incomplete NDCF disclosures, and distribution to unit holders using borrowed funds despite negative cash balances at SPVs. Mindspace paid ₹68.74 lakh as settlement amount on November 18, 2024, after the High Powered Advisory Committee and Panel of Whole Time Members approved the settlement on November 12, 2024.
These are historical and already-resolved regulatory matters — the settlement has been paid and the administrative warning acknowledged with corrective action. Likely minimal direct impact on unit price, though the NDCF-related settlement points to past weaknesses in cash flow distribution reporting that long-term unitholders should note as part of governance history.