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of <h1>SEBI Circular Outlines Compliance for NCRPS & NCDs Listing via Scheme of Arrangement; Emphasizes SEBI & Regulation Rules.</h1> The circular from SEBI addresses the listing of Non-Convertible Redeemable Preference Shares (NCRPS) and Non-Convertible Debentures (NCDs) through a Scheme of Arrangement. It outlines the compliance requirements for listed entities and stock exchanges, emphasizing adherence to SEBI regulations and the Securities Contracts (Regulation) Rules. Key conditions include eligibility criteria, minimum tenure, credit rating, and detailed disclosures in the scheme. The circular mandates compliance with the Companies Act and SEBI's regulations on debt securities. A compliance report, certified by the company secretary and managing director, must accompany applications for regulatory relaxation. The provisions apply to draft schemes filed post-circular issuance.
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