Sebi slaps Axis Trustee Services with Rs 10 lakh penalty for disclosure delay

One delayed disclosure raised questions over unitholder rights

SEBI has fined Axis Trustee Services ₹10 lakh for failing to promptly disclose an adverse ruling against former REIT executive Aravind Maiya. The National Financial Reporting Authority found Maiya guilty of misconduct, information critical for unitholders and stock exchanges. Regulators said Axis Trustee’s disclosure delay triggered the action, highlighting compliance expectations for trust managers.