Issuer eligibility conditions restrict public debt issues and require listing, credit rating, depository, merchant banker and trustee arrangements. Regulation 4 sets eligibility and procedural prerequisites for public issues of debt securities: issuers are barred where the issuer, controllers, promoters or directors are restrained from market access or are wilful defaulters or in prolonged default; issuers must apply for listing and obtain in principle approval, disclose credit rating(s) from registered agencies, arrange for dematerialization with a registered depository, appoint merchant banker(s) including a lead, and appoint debenture trustee(s); issuance to finance loans to or acquisition of shares of persons in the same group or under the same management is prohibited.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Issuer eligibility conditions restrict public debt issues and require listing, credit rating, depository, merchant banker and trustee arrangements.
Regulation 4 sets eligibility and procedural prerequisites for public issues of debt securities: issuers are barred where the issuer, controllers, promoters or directors are restrained from market access or are wilful defaulters or in prolonged default; issuers must apply for listing and obtain in principle approval, disclose credit rating(s) from registered agencies, arrange for dematerialization with a registered depository, appoint merchant banker(s) including a lead, and appoint debenture trustee(s); issuance to finance loans to or acquisition of shares of persons in the same group or under the same management is prohibited.
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