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Nexus Select Mall Management has settled regulatory proceedings initiated by the Securities and Exchange Board of India (SEBI) over alleged violations of Real Estate Investment Trust (REIT) regulations after paying a settlement amount of INR 24.37 lakh. The regulator had issued a show cause notice in June 2025 alleging that the entity failed to maintain the required net worth and did not inform SEBI about a material change in its net worth, as mandated under REIT regulations. The company later submitted a settlement application seeking to resolve the matter without admitting or denying the allegations. Following SEBI's review and receipt of the settlement payment, the regulator has disposed of the adjudication proceedings under the applicable settlement regulations, bringing the matter to a close.
Nexus Select Mall Management has settled regulatory proceedings initiated by Securities and Exchange Board of India (SEBI) over alleged violations of Real Estate Investment Trust (REIT) regulations after paying a settlement amount of INR 24.37 lakh. Advertisement
SEBI, in an order issued on March 5, stated that the settlement follows allegations that the company failed to maintain the required net worth and did not notify the regulator of a material change in its net worth, as mandated under REIT regulatory provisions.
The regulator had earlier issued a show cause notice to the company on June 11, 2025, citing violations related to the applicable REIT regulations. The notice alleged that Nexus Select Mall Management had not complied with the requirement to maintain a prescribed net worth and had also failed to inform SEBI about the change in its financial position.
While adjudication proceedings were underway, the company approached SEBI with a proposal to settle the matter. The application, submitted on July 10, 2025, sought resolution of the proceedings through a settlement order without admitting or denying the facts and legal conclusions outlined in the show cause notice.
After reviewing the proposal in accordance with its settlement regulations, SEBI approved the settlement upon payment of the prescribed amount. The company subsequently remitted INR 24.37 lakh as the settlement fee.
Following receipt of the payment, the regulator disposed of the adjudication proceedings that had been initiated against the applicant through the show cause notice.
SEBI clarified that the disposal of the proceedings was carried out in terms of the provisions laid out under its settlement regulations, which allow entities to resolve regulatory matters without continuing with adjudication, subject to the payment of a settlement amount and compliance with the prescribed procedure.
Source - PTI
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