Brookfield India REIT settles SEBI notice on breach of borrowed funds rule
This story was originally published at 19:33 IST on 1 September 2025
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NEW DELHI - Brookprop Management Services, the investment manager of real estate investment trust Brookfield India Real Estate Trust, has paid INR 2.05 million to settle a show cause notice issued by the Securities and Exchange Board of India.
Based on a thematic inspection of net distributable cash flow-related operations of real estate investment trusts, SEBI had alleged that the manager of Brookfield India Real Estate Trust breached certain provisions of the REIT regulations. SEBI said in the settlement order, Brookprop Management Services had allegedly "made use of borrowed funds for facilitating distribution of net distributable cash flow". After SEBI issued a show cause notice in June 2024, the manager of Brookfield India's REIT made an offer to the market regulator to settle the case without it having to admit or deny "the findings of facts and conclusions of law," according to a settlement order issued on Monday.
Earlier, a Brookfield group joint venture with Peninsula Land, in its capacity as a registered alternative investment fund, had received a SEBI show-cause notice following an alleged breach of certain provisions of the AIF regulations. PenBrook Capital Advisors, the investment manager of Peninsula Brookfield India Real Estate Fund, had settled the regulator's show cause notice issued to it, the AIF's trustee, and six officials in January 2022 by paying INR 6.38 million. End
Reported by Rajesh Gajra
Edited by Saji George Titus
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