Nexus Select Trust has informed the Exchange regarding Disclosure of material issue
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Nexus Select Trust has filed its Secretarial Compliance Report for FY 2025-26, issued by Chandrasekaran Associates (PCS). The report confirms general compliance with REIT Regulations but flags two SEBI actions: (1) A SEBI Settlement Order (SO/AK/GN/2025-26/8623 dated March 4, 2026) where the REIT paid ₹24,37,500 (Rupees Twenty-Four Lakhs Thirty-Seven Thousand Five Hundred) on February 12, 2026, to settle alleged violations — specifically failure to maintain required net worth and failure to intimate SEBI about a material change in net worth, under Regulation 7(b)/7(c) r/w Regulation 4 of REIT Regulations. Adjudication proceedings were disposed of upon payment. (2) A SEBI Advisory Letter (March 12, 2026) issued observations on: (a) adopting a proactive structural and safety audit cycle under Regulation 10(4); and (b) maintaining accurate data submissions and uploading complete grievance redressal details. The REIT submitted an Action Taken Report to SEBI on April 10, 2026. The Manager confirms ongoing compliance and commits to continued adherence to REIT regulations.
The REIT has resolved its regulatory matter by paying a settlement of ₹24.37 lakh for net worth non-compliance. SEBI's advisory on safety audits and data accuracy reflects increased regulatory scrutiny of REIT operations, but the REIT's prompt response and commitment may mitigate further concerns. Overall compliance standing is maintained, with no ongoing material enforcement actions.