Brookfield India REIT's Subsidiary Approves Scheme for Accumulated Loss Set-off
Brookfield India Real Estate Trust REIT has confirmed that a scheme of arrangement, devised by its subsidiary Seaview Developers Private Limited, aims to set off accumulated book losses. The proposed scheme is intended to improve the distribution efficiency of the trust while maintaining the value of Brookfield India REIT's investment in the company.Seaview Developers Private Limited, a special purpose vehicle wholly owned by Brookfield India Real Estate Trust (Brookfield India REIT), has approved the scheme of arrangement under Section 230 of the Companies Act, 2013. The scheme is designed to facilitate the set-off of Seaview's accumulated book losses as of June 30, 2026.
The board of directors of the manager of Brookfield India REIT has also approved the proposed scheme and provided all necessary authorizations required for its filing with the National Company Law Tribunal.
The arrangement is structured so that it does not affect the interest or the economic value of Brookfield India REIT in Seaview, focusing instead on enhancing the distribution efficiency of the trust.
BIRET Stock Price Movement
Brookfield India Real Estate Trust shares closed higher on Friday, gaining 0.15% or ₹0.51 to settle at ₹337.68. The REIT saw brisk activity with a volume of 218,558 shares traded, closing near the day's high of ₹338.29.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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