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SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 7th September, 2021 SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSUREREQUIREMENTS) (FIFTH AMENDMENT) REGULATIONS, 2021 No. SEBI/LAD-NRO/GN/2021/47. - In exercise of the powers conferred by section 11, sub-section (2) ofsection 11A and section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992) read with section 31of the Securities Contracts (Regulation) Act, 1956 (42 of 1956),
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FAQ :
The main purpose is to further amend the existing SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, by updating definitions and introducing new requirements for listed entities, especially concerning non-convertible debt securities.
These regulations come into force on the date of their publication in the Official Gazette.
A 'high value debt listed entity' is a listed entity that has listed its non-convertible debt securities with an outstanding value of Rupees Five Hundred Crore and above.
High value debt listed entities are subject to specific corporate governance regulations, including provisions for independent directors, disclosure requirements for half-yearly financial results, and mandatory Directors and Officers (D&O) insurance for independent directors.
Listed entities must prepare and submit un-audited or audited standalone financial results on a quarterly basis within forty-five days from the end of the quarter (except for the last quarter). Annual audited results are due within sixty days from the end of the financial year.
Yes, listed entities must give prior intimation to the stock exchange of at least two working days in advance about board meetings where certain proposals concerning non-convertible securities will be considered. They must also disclose events and information on their website for a minimum of five years.
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Source : https://www.sebi.gov.in/legal/regulations/sep-2021/securities-and-exchange-board-of-india-listing-obligations-and-disclosure-requirements-fifth-amendment-regulations-2021_52488.html