Non-convertible securities framework: mandatory dematerialisation, trustee oversight, disclosure, security cover and enforcement mechanisms. Comprehensive SEBI regulations govern issuance and listing of non-convertible securities-debt, non-convertible redeemable preference shares, perpetual instruments and commercial paper-applicable to public issues and private placements proposed to be listed. They prescribe eligibility exclusions (debarred persons, wilful defaulters, fugitive economic offenders), mandatory dematerialisation, debenture trustee and registrar appointments, credit rating, recovery expense fund, 100% security cover for secured debt, disclosure, filing of draft offer documents, due diligence by lead managers and trustees, timelines, interest/penalties for delays, and enforcement powers for inspection, directions, relaxations and regulatory fees.
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.
Comprehensive SEBI regulations govern issuance and listing of non-convertible securities-debt, non-convertible redeemable preference shares, perpetual instruments and commercial paper-applicable to public issues and private placements proposed to be listed. They prescribe eligibility exclusions (debarred persons, wilful defaulters, fugitive economic offenders), mandatory dematerialisation, debenture trustee and registrar appointments, credit rating, recovery expense fund, 100% security cover for secured debt, disclosure, filing of draft offer documents, due diligence by lead managers and trustees, timelines, interest/penalties for delays, and enforcement powers for inspection, directions, relaxations and regulatory fees.
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