Clarification to SEBI circular dated August 04, 2022 on enhanced guidelines for debenture trustees and listed issuer companies on security creation and initial due diligence
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ISIN allocation guidance: changes to security alone do not trigger a new ISIN when core issuance terms remain unchanged. Clarification states that changes to the underlying security, creation of additional security, or creation of security for unsecured debt do not require a new ISIN provided core issuance terms (maturity, coupon, face value, redemption schedule or nature of the instrument) remain unchanged; Depositories shall not assign a new ISIN in such cases, and debenture trustees must ensure regulatory compliance when the underlying security changes.
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.
ISIN allocation guidance: changes to security alone do not trigger a new ISIN when core issuance terms remain unchanged.
Clarification states that changes to the underlying security, creation of additional security, or creation of security for unsecured debt do not require a new ISIN provided core issuance terms (maturity, coupon, face value, redemption schedule or nature of the instrument) remain unchanged; Depositories shall not assign a new ISIN in such cases, and debenture trustees must ensure regulatory compliance when the underlying security changes.
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