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of <h1>SEBI Amends Capital and Disclosure Rules: Bans Equity/Debt Issues by Wilful Defaulters, Mandates Detailed Disclosures.</h1> The Securities and Exchange Board of India (SEBI) issued the Third Amendment to the Issue of Capital and Disclosure Requirements Regulations, 2016. Effective upon publication in the Official Gazette, these amendments apply to issuers filing offer documents post-commencement. Key changes include defining 'wilful defaulter' and prohibiting public issues of equity or convertible debt by such defaulters. Issuers must disclose specific details if categorized as wilful defaulters, including the bank's name, year of declaration, and outstanding amounts. Prominent disclosure is required on offer documents, and promoters cannot renounce rights in certain rights issues. Additional disclosure requirements are specified in various regulations and schedules.
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