Nexus Select Trust has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Nexus Select Trust has submitted a revised Annual Secretarial Compliance Report for the financial year ended March 31, 2026. The revision was made to include information about the Trustee. The report reveals a SEBI Settlement Order dated March 4, 2026, where the REIT settled alleged violations related to failure to maintain required net worth and failure to intimate SEBI about material changes. The settlement amount was Rs 24,37,500, paid on February 12, 2026, and the adjudication proceedings were disposed of. SEBI also issued an advisory letter on March 12, 2026, requiring the REIT to adopt proactive structural and safety audits, maintain accurate data submissions, and ensure proper grievance redressal disclosures. Multiple actions were also noted against Axis Trustee Services Limited (the REIT's trustee), though these relate to the trustee rather than the REIT itself.
The settlement and advisory indicate past compliance lapses around net worth requirements, though the matter has been resolved. Shareholders should note that SEBI has directed improved governance practices including safety audits and data accuracy. The revised report demonstrates ongoing regulatory scrutiny of REIT compliance.