Simplified Debt Listing Agreement for Debt Securities - Amendments

Simplified Debt Listing Agreement for Debt Securities - Amendments

SEBI/IMD/DOF-1/BOND/Cir-1/2010

January 07, 2010

The Managing Director/ Administrator

All Stock Exchanges

Dear Sirs,

Sub: Simplified Debt Listing Agreement for Debt Securities - Amendments

1. SEBI vide circular SEBI/IMD/DOF-1/BOND/Cir-5/2009 dated November 26, 2009 amended the Simplified Listing Agreement for Debt Securities.

2. In continuation thereof, it has been decided to amend the Simplified Listing Agreement for Debt Securities as follows with immediate effect:

(a) After clause 5, the following proviso shall be inserted:

Provided that this requirement shall not be applicable in case of unsecured debt instruments issued by regulated financial sector entities eligible for meeting capital requirements as specified by respective regulators.

(b) In clause 16, after sub-clause (a), the following proviso shall be inserted:

Provided that this requirement shall not be applicable in case of unsecured debt instruments issued by regulated financial sector entities eligible for meeting capital requirements as specified by respective regulators.

(c) In clause 29 A, in sub-clause (b) and sub-clause (c), the word “un-audited” shall be omitted.

3. The Stock Exchanges are directed to:

(a) Give effect to the abovementioned policies and make amendments to the Simplified Listing Agreement for debt securities

(b) Make consequential amendments, if any, to the bye- laws and other rules and regulations for the implementation of the above decision

(c) Bring to the notice of all issuers listed with the exchange.

(d) Disseminate the same on their websites for easy access to investors.

4. This circular is issued in exercise of powers conferred by sub-section (1) of section 11 and section 11A of the Securities and Exchange Board of India Act, 1992, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.

5. This circular is available on SEBI website at www.sebi.gov.in under the categories “Legal Framework” and “Corp Debt Market”.

Yours faithfully,

Maninder Cheema