FII investment in to be listed debt securities requires listing within fifteen days or immediate disposal/redemption follows. SEBI registered FIIs/sub accounts may invest in primary issuances of NCDs/bonds only if the issuer commits to list those securities within 15 days of investment; failure to list within 15 days requires the FII/sub account to immediately dispose of the securities by sale to a third party or to the issuer, and offer terms must require the issuer to redeem or buy back the securities in that event.
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.
FII investment in to be listed debt securities requires listing within fifteen days or immediate disposal/redemption follows.
SEBI registered FIIs/sub accounts may invest in primary issuances of NCDs/bonds only if the issuer commits to list those securities within 15 days of investment; failure to list within 15 days requires the FII/sub account to immediately dispose of the securities by sale to a third party or to the issuer, and offer terms must require the issuer to redeem or buy back the securities in that event.
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