SEBI · India ·

India's SEBI fines Axis Trustee over Embassy REIT disclosure lapses

→REIT trustees must act faster on fit-and-proper disclosure failures

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India's SEBI fined Axis Trustee Services ₹10 lakh for disclosure and fit-and-proper oversight lapses at Embassy Office Parks REIT.
Why it matters
SEBI found that Axis Trustee failed to ensure timely disclosure of NFRA's order against Embassy REIT manager CEO Aravind Maiya. The order reinforces trustee duties to independently oversee REIT manager disclosures and fit-and-proper compliance.
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SEBI
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