Extension of timelines for entering and verification of the details of the existing outstanding non-convertible securities in the ‘Security and Covenant Monitoring’ system hosted by Depositories
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Extension of timelines for entering and verifying non-convertible security data in the security monitoring system; trustees must verify and report. Issuers must enter details of existing outstanding non-convertible securities into the Security and Covenant Monitoring system by the revised deadline, and Debenture Trustees must verify those entries by the revised verification deadline. Debenture Trustees must submit fortnightly progress reports on issuer data entry and verification status, with each report furnished within five days after the end of the fortnight. The timeline adjustments respond to operational and technical difficulties with the Distributed Ledger Technology-based system and amend earlier operating guidelines.
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Provisions expressly mentioned in the judgment/order text.
Extension of timelines for entering and verifying non-convertible security data in the security monitoring system; trustees must verify and report.
Issuers must enter details of existing outstanding non-convertible securities into the Security and Covenant Monitoring system by the revised deadline, and Debenture Trustees must verify those entries by the revised verification deadline. Debenture Trustees must submit fortnightly progress reports on issuer data entry and verification status, with each report furnished within five days after the end of the fortnight. The timeline adjustments respond to operational and technical difficulties with the Distributed Ledger Technology-based system and amend earlier operating guidelines.
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