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<h1>SEBI Enforces Schedule V: Issuers Must Disclose Financial Changes, Ratios, and Bond Updates for Municipal Debt Transparency</h1> The Securities and Exchange Board of India (SEBI) mandates periodic disclosures from issuers of municipal debt securities under Schedule V of the 2015 regulations. Issuers must report any material adverse changes that affect their ability to service bonds, proposals for pre-payment, and bond valuations for early transactions. Important financial ratios such as debt equity ratio and debt service coverage ratio must be disclosed. Additionally, issuers are required to submit half-yearly updates on bond servicing, credit enhancement facilities, and the status of investor grievances and redressal. These disclosures ensure transparency and accountability in the management of municipal debt securities.