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<h1>SEBI Regulation 48 mandates disclosure of asset charges in offer documents for privately placed debt securities.</h1> Regulation 48 of the Securities and Exchange Board of India (SEBI) regulations outlines the requirements for creating security over an issuer's assets when listing debt securities issued on a private placement basis. Issuers may create security over various types of assets, including those of subsidiaries or associated companies. The regulation mandates that any charge created for secured debt securities must be disclosed in the offer document and Debenture Trust Deed, accompanied by an undertaking confirming that the assets are free from encumbrances or that necessary permissions have been obtained from existing creditors if the assets are already encumbered.