Continuous disclosure obligations require municipal issuers to promptly report price sensitive events and timely file audited financials. Issuers of municipal debt must comply with structured continuous disclosure and compliance obligations: submit unaudited half yearly results within three months and audited annual results with the annual report within six months; include comparative figures and specified key financial statements; have financials taken on record by the competent municipal or governing body and audited by the appointed auditor; disclose to stock exchanges material or price sensitive events within twenty four hours using the prescribed format; certify timely payment of interest and principal within five working days; obtain stock exchange approval for material modifications; and maintain investor grievance redressal, credit rating reviews, record date notifications, and a designated compliance officer.
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Provisions expressly mentioned in the judgment/order text.
Continuous disclosure obligations require municipal issuers to promptly report price sensitive events and timely file audited financials.
Issuers of municipal debt must comply with structured continuous disclosure and compliance obligations: submit unaudited half yearly results within three months and audited annual results with the annual report within six months; include comparative figures and specified key financial statements; have financials taken on record by the competent municipal or governing body and audited by the appointed auditor; disclose to stock exchanges material or price sensitive events within twenty four hours using the prescribed format; certify timely payment of interest and principal within five working days; obtain stock exchange approval for material modifications; and maintain investor grievance redressal, credit rating reviews, record date notifications, and a designated compliance officer.
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