Relaxation from compliance with provisions of the SEBI (Issue and Listing of Debt Securities) Regulations, 2008 (“ILDS Regulation”), SEBI (Non-Convertible Redeemable Preference Shares) Regulations

Last updated: 16 July 2020

Save Share

Quick Summary

The Securities and Exchange Board of India (SEBI) has issued a circular providing relaxation from certain compliance requirements for listed issuers. This is in response to the COVID-19 pandemic and requests for extensions for listing Non-Convertible Debentures (NCDs), Non-Convertible Redeemable Preference Shares (NCRPS), and Commercial Papers (CPs). Listed issuers who have issued these instruments on or after July 1, 2020, and intend to list them by July 31, 2020, can now use financial data as of December 31, 2019.

Securities and Exchange Broad of India CIRCULAR SEBI/HO/DDHS/CIR/P/2020/121 July 15, 2020 To, All listed issuers All Recognized Stock Exchanges All Debenture Trustees All Registered Merchant Bankers Madam/Sir, Sub: Relaxation from compliance with provisions of theSEBI (Issue and Listing of Debt Securities) Regulations, 2008(ILDS Regulation),SEBI (Non-Convertible Redeemable Preference Shares) Regulations, 2013(NCRPS Regulations) and SEBI Circulars relating to Listing of Comm

Daily Limit Reached

You have reached your daily limit of 2 Free Notice & Circular

Subscribe to CCI PRO for unlimited access

Why Upgrade to CCI PRO?

No Ads
WhatsApp Community
Daily E-Newsletter
Unlimited Notice & Circular Access
Profile Visitors
Link Social Profiles
Featured Job Posts
Pro Badge
Expert GST Guidance
Unlimited Forum Replies
Download Content in PDF

1 Year PLAN - Rs.~~1999~~

1799

(Excl. of GST ₹323)

2 Years PLAN - Rs.~~3499~~

3149

(Excl. of GST ₹566)

BEST VALUE

3 Years PLAN - Rs.~~4999~~

4499

(Excl. of GST ₹809)

View all CCI PRO benefits

Already a PRO member? Login here for an ad-free experience. 07941056694

FAQ :

The circular provides a relaxation from the standard requirement of submitting the latest audited financials for the listing of debt securities, specifically NCDs, NCRPS, and CPs, due to the COVID-19 pandemic.

The relaxation applies to provisions of the SEBI (Issue and Listing of Debt Securities) Regulations, 2008, SEBI (Non-Convertible Redeemable Preference Shares) Regulations, 2013, and SEBI Circulars related to the Listing of Commercial Papers.

Listed issuers who have issued NCDs, NCRPS, or CPs on or after July 1, 2020, and intend to list them on or before July 31, 2020, are permitted to use available financials as of December 31, 2019.

Issuers can use their available financials as of December 31, 2019, for the purpose of listing these instruments within the specified period.

SEBI had previously extended the timelines for submitting financial results for the quarter/half-year/annual financial year ending March 31, 2020, until July 31, 2020.

Notification No : SEBI/HO/DDHS/CIR/P/2020/121
Source : https://www.sebi.gov.in/legal/circulars/jul-2020/relaxation-from-compliance-with-provisions-of-the-sebi-issue-and-listing-of-debt-securities-regulations-2008-ilds-regulation-sebi-non-convertible-redeemable-preference-shares-regulations-20-_47071.html

148 Views Comment Share Investments & Personal Finance Report

Notification posted by

CCI News Desk

Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

Comments