Chapter IIIPUBLIC ISSUE AND LISTING OF DEBT SECURITIES AND NON CONVERTIBLE REDEEMABLE PREFERENCE SHARES
Part APROVISIONS APPLICABLE TO PUBLIC ISSUE AND LISTING OF DEBT SECURITIES AND NON CONVERTIBLE REDEEMABLE PREFERENCE SHARES (From Regulation 25 to Regulation 38 )
Regulation 40 - Due Diligence by Debenture trustee
Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021 Part B ADDITIONAL CONDITIONS APPLICABLE TO A PUBLIC ISSUE AND LISTING OF DEBT SECURITIES
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Debenture trustee due diligence: trustees must submit certificate formats for secured and unsecured debt at filing and listing stages. Regulation 40 requires the debenture trustee to furnish to the Board and the stock exchange(s) a due diligence certificate when filing the draft offer ... Summary
Debenture trustee due diligence: trustees must submit certificate formats for secured and unsecured debt at filing and listing stages.
Regulation 40 requires the debenture trustee to furnish to the Board and the stock exchange(s) a due diligence certificate when filing the draft offer document and prior to opening the public issue, with distinct formats for secured and unsecured debt securities as set out in the relevant Parts of the Schedules; a similar certificate is required at the time of filing the listing application, and the stock exchange must disclose the offer document and these certificates on its website.
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