Roadstar Infra Investment Trust has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Roadstar Infra Investment Trust submitted its Annual Secretarial Compliance Report for FY ended March 31, 2025, prepared by MMJB & Associates LLP. Two minor deviations were noted: (1) Board composition fell to 5 directors for short periods (14 and 19 days) due to director resignations/appointments, which SEBI has condoned, and (2) the Structured Digital Database (SDD) under PIT Regulations was initially maintained in Excel format but has since been corrected. The report also discloses multiple NSE/BSE fines levied on the sponsor group entities — IL&FS Transportation Networks, IL&FS Financial Services, and Infrastructure Leasing and Financial Services — for late submission of financial results and non-disclosure of required line items under Regulations 33, 52, 54 of the Listing Regulations, with individual fines ranging from a few thousand to several lakhs across multiple quarters. Additionally, SEBI issued multiple administrative warnings and deficiency advisories to Axis Trustee Services Limited (the InvIT's trustee) related to inspections and procedural deficiencies.
The board composition shortfall was resolved and approved by SEBI, so no material governance concern. However, repeated fines on sponsor group entities (IL&FS group companies) and SEBI warnings to the Trustee signal ongoing compliance lapses within the wider InvIT structure. While these fines are on related parties rather than the Trust itself, retail investors should monitor whether governance discipline improves in coming quarters.