Regulation 27 - Obligations of the issuer and merchant banker
Securities and Exchange Board of India (Issue and Listing of Municipal Debt Securities) Regulations, 2015 Chapter VII OBLIGATIONS OF INTERMEDIARIES AND ISSUERS
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Disclosure compliance for municipal debt securities requires true, fair and adequate offer documents, merchant banker diligence, and conflict-free issuance. The issuer must disclose all material facts in the offer documents and ensure that the disclosures are true, fair and adequate, without misleading or ... Summary
Disclosure compliance for municipal debt securities requires true, fair and adequate offer documents, merchant banker diligence, and conflict-free issuance.
The issuer must disclose all material facts in the offer documents and ensure that the disclosures are true, fair and adequate, without misleading or untrue statements. The merchant banker must verify and confirm the disclosures, ensure issuer compliance, and secure compliance with transaction-specific disclosure requirements and any applicable Companies Act, 2013 disclosure obligations. The issuer must treat applicants fairly and equitably, and the merchant banker is responsible for due diligence and for avoiding conflicts of interest with the issuer or its group companies.
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