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<h1>Issuers Must Declare Unencumbered Collateral Assets in Information Memorandum Under Regulation 21B of SEBI Debt Securities Regulations</h1> Regulation 21B of the Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008 mandates that issuers must declare in the Information Memorandum that the assets used as collateral are unencumbered. If the assets are already pledged, the issuer must secure permission or consent from the existing creditor to create a second or pari-passu charge on these assets. This provision was inserted through a notification dated October 8, 2020.